We sold a vacation home, but Turbo Tax seems like it treats the questions like my main home. Is there a different area I should be putting this info?

[rjs]

You report the sale of a vacation home as an investment sale, under "Stocks, Cryptocurrency, Mutual Funds, Bonds, Other." On the screen that says "OK, let's start with one investment type," click "Other (land, second home, personal items)."

[dahliaqueen-sf]

Thank you, I would not have looked there. It would be nice if TT would add something to the page for your main home selling that if this is for a second home or a vacation home "Go Here".....  

[rjs]

[dahliaqueen-sf]

You are correct, I totally skipped that part and saw the 1099-S part to enter it here.  I went back and put it under investments. I clicked the box for "second home with a 1099-S"  Put in the figures and in the summary of incomes it lists it as a 1099-B.  Also, it does not have a place to put cost of "permanent improvements" like the selling your main home does. ??? I can't seem to change that. So I guess I just leave it.

[rjs]

I tested entering a sale of a second home. I don't see where TurboTax lists it as a 1099-B. But it doesn't matter how it appears in a TurboTax summary as long as the actual tax forms are correct. The sale is reported on Form 8949 just like a sale of any other investment. The Form 8949 that lists the sale of the second home has box F checked, which means "not reported to you on Form 1099-B."

You have to add the cost of improvements to the "Total amount paid" (otherwise known as the basis). Unfortunately TurboTax does not give you any guidance about that.