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kbrdmn2
Returning Member

Where do I report a real estate sale of an investment property?

I bought an investment property on November 20, 2015 (a house). I rehabbed it and sold it on November 29, 2016.  Where do I report the sale and capital gain?

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1 Best answer

Accepted Solutions
NicoleU
New Member

Where do I report a real estate sale of an investment property?

If you did not rent out the property during the year, then you may report it under the following TurboTax steps:

  • Click Federal Taxes
  • Click Wages & Income
  • Go to Investment Income
  • Go to Stock, Mutual Funds, Bonds, Other, then Click Start
  • Answer No " Did you get a 1099-B or a brokerage statement for these sales?"
  • On the next screen, select Second Home, Click Continue
  • Enter Second Home Sale Information
  • Tell us How You Acquired This Home, select Other method
  • Enter Cost Information

Cost Basis - Original cost, including sales tax, purchase expenses, etc.

  PLUS
 - Improvements (with a useful life of more than one year)
 - Nondeductible assessments for improvements (sidewalks, utilities,
  etc.)

  MINUS
 - Depreciation claimed
 - Section 179 deduction taken, and
 - Casualty and theft losses deducted


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2 Replies
NicoleU
New Member

Where do I report a real estate sale of an investment property?

If you did not rent out the property during the year, then you may report it under the following TurboTax steps:

  • Click Federal Taxes
  • Click Wages & Income
  • Go to Investment Income
  • Go to Stock, Mutual Funds, Bonds, Other, then Click Start
  • Answer No " Did you get a 1099-B or a brokerage statement for these sales?"
  • On the next screen, select Second Home, Click Continue
  • Enter Second Home Sale Information
  • Tell us How You Acquired This Home, select Other method
  • Enter Cost Information

Cost Basis - Original cost, including sales tax, purchase expenses, etc.

  PLUS
 - Improvements (with a useful life of more than one year)
 - Nondeductible assessments for improvements (sidewalks, utilities,
  etc.)

  MINUS
 - Depreciation claimed
 - Section 179 deduction taken, and
 - Casualty and theft losses deducted


kbrdmn2
Returning Member

Where do I report a real estate sale of an investment property?

Thank you!!
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