Yes, you can report the sale of your vacation home in TurboTax Online. Here's how to do that:
- Sign in to TurboTax.
- Select Income & Expenses.
- Select Pick up where I left off or Review.
- Select Start or Update to the right of Stocks, Cryptocurrency, Bonds, Mutual Funds, Other, which is under Investments and Savings.
- Answer the first question Yes, or if you already sales here select Add more sales.
- Select Enter a different way.
- Select the Other tile, then Continue.
- Enter Second home or another descrirption as the name, then select Continue.
- For type, select Second home.
- For the next few boxes enter the information from your 1099-S.
- Answer the rest of the questions according to your situation.
- Select Continue.
- On the screen Let us know if any of these situations apply to this sale, select I paid sales expenses that aren't included in the sale proceeds reported on the form, then Continue.
- Enter the closing costs you had to pay to sell the property.