If you are a nonresident of NJ, see how to set up your NJ state return before entering the sale.
If this house was an second home sold:
To
enter this transaction in TurboTax, log into your tax return and click on "Take me to my return") and type "investment
income (gains and losses)" in the search bar then select "jump to
investment income (gains and losses)". TurboTax will guide you in entering
this information (see step 6 below)
Alternatively,
to enter this sale of a second home in TurboTax Online, please
follow these steps:
- Once you are in your tax
return, click on the “Federal Taxes” tab
- Next click on “Wages &
Income”
- Next click on “I’ll choose
what I work on” (jump to full list)
- Scroll down the screen until
to come to the section “Investment Income”
- Choose “Stocks, Mutual Funds,
Bonds, Other” and select “start’ (or “update” is you have already worked
on this section)
- The first screen will ask if
you sold any investments during the current tax year (This includes any
sale of real property held as an investment property so answer “yes” to
this question)
- Since you did not receive a
1099-B, answer “no” to the 1099-B question
- Choose type of investment you
sold - select Second Home
Yes
No
