I sold my north woods vacation home in the year and did not use a broker. I entered the high-Level details under "investments--other" as suggested by a person I talked to at Turbo Tax. However, the program calls for the name of the broker. The help specialist indicated that i should type in "sale of second home" in this space." Wouldn't "None" be more appropriate? Also, the form does not include any of the details of the basis simply the adjusted cost. Shouldn't the purchase cost and subsequent improvements be detailed separately?
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It doesn't matter what you enter for the broker's name. It doesn't go on your tax return. It's just something that TurboTax uses to identify multiple copies of the Capital Asset Sales Worksheet. The worksheet is an internal form for TurboTax. It's not part of your tax return.
The details of the calculation of basis also do not go on your tax return. Only the one number for basis actually appears on your tax return. There is no place on the tax return to show the details.
Thanks for the reply.
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