2260043
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

mrajc610
New Member

Sold a house not my primary residence where do I put the proceeds for that?

Where do the proceeds for sale of second home go?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
ColeenD3
Expert Alumni

Sold a house not my primary residence where do I put the proceeds for that?

Please see this answer from Irene2805.

 

TurboTax Online

  1. Click on Federal > Wages & Income
  2. In the Investment Income section click on the Start/Revisit box next to Stocks, Mutual Funds, Bonds, Other.  If you have already entered some investment sales, you will see a screen Here's the investment sales info we have so far.  Click on the Add More Sales link. 
  3. If you haven't yet entered some investment sales, you will see a screen Did you sell any investments in 20XX?  Click the Yes box.
  4. On the screen,  OK, what type of investments did you sell? mark the Other box and click Continue.
  5. When you get to the screen, Now we’ll walk you through entering your sale details enter the details of the sale.  You will be able to select the type of investment in the first box [second home, land, etc.]  [See Screenshot #1 below.]
  6. Enter the requested information and click Continue when done.

 

TurboTax CD/Download

  1. On the Wages & Income screen, in the Investment Income section click on the Start/Revisit box next to Stocks, Mutual Funds, Bonds, Other.  If you have already entered some investment sales, you will see a screen Here's the investment sales info we have so far.  Click on the Add More Sales link. 
  2. If you haven't yet entered some investment sales, you will see a screen Did you sell any investments in 20XX?  Click the Yes box.
  3. On the screen,  Did you get a 1099-B or brokerage statement... click the No box.
  4. On the screen, Tell us about this sale, mark the radio button, I'll enter one sale at a time.
  5. Enter the information in the boxes that appear.  You will have to type in Second Home in box 1a.
  6. Enter the total sales proceeds as well as the other information requested.  [Screenshot #2]
  7. Continue to the screen, Select any less common adjustments that apply.  
  8. Mark the first box The reported sales price did not deduct all fees or selling expenses.  [Screenshot #3]  
  9. Enter the sales expenses not deducted from the sales price entered earlier.

Sold a house not my primary residence where do I put the proceeds for that?

How do I see the screen shots that were referenced?  I have a code M in column f.  Should I have that or should it be blank or a different code?

ColeenD3
Expert Alumni

Sold a house not my primary residence where do I put the proceeds for that?

Please click on this LINK for the original answer.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question