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Where do you put sale of 2nd property
We sold our primary residence in 2016 and meet the requirments and won't have to pay taxes on that gain. We also sold a 2nd property, mainly real estate, not the house so much, at a gain. Where do we place that in turbo taxand how is it taxed? Long-term gain if held over a year and short-term is held under a year.?
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Where do you put sale of 2nd property
To enter an investment sale other than from a brokerage account (1099-B), follow the steps below.
- Click on Federal Taxes (Personal using Home and Business)
- Click on Wages and Income (Personal Income using Home and Business)
- Click on I'll choose what I work on (if shown)
- Under Investment Income
- On Stocks, Mutual Funds, Bonds, Other, click the start or update button
Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales
On the next screen, click Yes
On the next screen, click No
On the next screen, choose the option that pertains to the type of investment sale you are reporting and continue with the section until it completes.