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You report is as the sale of a 2nd home. Any capital gain is taxable (it goes on form 8949). Any capital loss id not deductible (the personal use rule). You add the cost of improvements to your cost basis to determine your gain or loss.
If you received a 1099-S (it may have been in your closing documents); type> 1099-S <in the find box. If you did not get a 1099-S and have a gain, still enter by typing 1099-S.
You report is as the sale of a 2nd home. Any capital gain is taxable (it goes on form 8949). Any capital loss id not deductible (the personal use rule). You add the cost of improvements to your cost basis to determine your gain or loss.
If you received a 1099-S (it may have been in your closing documents); type> 1099-S <in the find box. If you did not get a 1099-S and have a gain, still enter by typing 1099-S.
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