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.

PEJ
Level 2

Reporting Sale of Second Home

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?  

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.

2 Replies
rjs
Level 15
Level 15

Reporting Sale of Second Home

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.

 

PEJ
Level 2

Reporting Sale of Second Home

Thanks for the reply.  

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