House sale - form 1099

[yz493]

We sold the house last year. The sale price was lower than the purchase price, so there was a loss. Can we use the loss to deduct some tax?

Also, the closing attorney said that they have filed form 1099. My question is: what forms do we need to file? If any, can it be done through TurboTax?

Thank you for your time!

[DoninGA]

You receive no tax deduction for selling a personal home at a loss.  Since a Form 1099-S was filed then you have to report the sale to the IRS (gain or loss)

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)
Scroll down to Less Common Income
On Sale of Home (gain or loss), click the start or update button

Or enter sale of home in the Search box located in the upper right of the program screen. Click on Jump to sale of home

[yz493]

Thanks!