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Income/Home Sales shows zero?

I inherited a house and sold it. Using Business to create the estate return. Under Income under home sales it shows $0 on the income sheet. If I hit update and go thru it it shows a -$37k loss. Why is it not updating? 

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Bill

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2 Replies
Carl
Level 15

Income/Home Sales shows zero?

If *you* did not use the property for business (such as a rental) while *you* owned it, then it's a sale of personal property. Losses on the sale of personal property are never deductible.

 

Income/Home Sales shows zero?


@bhowe55 wrote:

Why is it not updating? 


Are you answering the key question, in the screenshot below, the same or differently? If you indicated the house was used for personal purposes, the loss will not appear. If you answered otherwise, you will see the loss.

 

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