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jacatc
New Member

Second home sale

My family sold my mother's house we inherited in 2011.  I live in PA and the home was sold in NY.  I realize I need to file state taxes because of the sale even though there was no capital gain or loss, but the only section in the NY state section I can find is sale of inherited property.  It says that the adjustment is not required for property acquired from a decedent who died on or after February 1, 2000.  My mother passed in 2011.  I am not sure what I'm supposed to do.
1 Best answer

Accepted Solutions
MiriamF
Intuit Alumni

Second home sale

New York State filing requirements state that you must file a return as a nonresident if you have New York source income.

You have no income from New York, as you have stated. Therefore, you don't have to file a New York return.

If you would feel better, you can always try filing a New York return. Because you have zero New York income, however, TurboTax may not let you proceed to file.

View solution in original post

6 Replies
MiriamF
Intuit Alumni

Second home sale

New York State filing requirements state that you must file a return as a nonresident if you have New York source income.

You have no income from New York, as you have stated. Therefore, you don't have to file a New York return.

If you would feel better, you can always try filing a New York return. Because you have zero New York income, however, TurboTax may not let you proceed to file.

krimm
Returning Member

Second home sale

how do I use turbo tax to record sale of second home? 

krimm
Returning Member

Second home sale

federal sale of second home?

sutnoishi
Returning Member

Second home sale

Do I need TurboTax premier to file tax on the sale of my condo (second home) in Canada?

krimm
Returning Member

Second home sale

Use Turbotax Deluxe. Open Schedule D for capital gains and losses.

JamesG1
Employee Tax Expert

Second home sale

@sutnoishi

TurboTax Premier will report Schedule D transactions.  See this comparison and scan down the left side of the screen for Schedule D.

 

To report a sale of second home, follow these steps: 

  • In the upper right hand corner of the screen click on the magnifying glass Search icon.
  • Type sale of second home.  Hit enter.
  • Click on Jump to sale of second home.
  • This should bring you to the screen Did you sell stocks, mutual fuds, bonds or other investments in 2020?.
  • Click Yes.
  • At the screen OK, what type of investments did you sell?, click Other.
  • At the screen Now we'll walk you through, in the drop-down box What type of investment click Second home.

TurboTax will walk you through a series of questions to determine whether the transaction generated a taxable event, a taxable gain or taxable loss. 

 

See also this TurboTax Help.

 

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