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Yes, you should. Since this is considered a second home and not your primary residence, it should be reported on the tax return. Turbo Tax will walk you through what information is needed and how to report it in the program.
Yes, you should. Since this is considered a second home and not your primary residence, it should be reported on the tax return. Turbo Tax will walk you through what information is needed and how to report it in the program.
Yes, if you received a 1099-S you will still need to enter it even if it was sold at a loss.
Even though you are required to report the sale (because you got a 1099-S), you are NOT allowed to claim the loss, as a deduction, because it is personal use property (as opposed to investment property). Turbotax will make an adjustment on form 8949.
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