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Sold my home in 2017. Does TurboTax handle items noted in IRS pub 523 during regular tax preparations
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Sold my home in 2017. Does TurboTax handle items noted in IRS pub 523 during regular tax preparations
You will be asked for the cost basis and selling price, and the dates of the sales. For cost basis, there is a "guide me" routine that will ask about many of the specific items that increase your cost basis, to help remind you of them. turbotax also handles depreciation recapture if this was a former rental, non qualified use, and the capital gains exclusion.
*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
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Sold my home in 2017. Does TurboTax handle items noted in IRS pub 523 during regular tax preparations
TurboTax handles just about everything related to selling your home. What specific items in Pub. 523 are you concerned about?
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Sold my home in 2017. Does TurboTax handle items noted in IRS pub 523 during regular tax preparations
You will be asked for the cost basis and selling price, and the dates of the sales. For cost basis, there is a "guide me" routine that will ask about many of the specific items that increase your cost basis, to help remind you of them. turbotax also handles depreciation recapture if this was a former rental, non qualified use, and the capital gains exclusion.
*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*