Premier Turbo Tax For Business

[johnrusa]

I am self employed and in the past use TT Home and Business.  This year, I sold a second home, and I can't use the Home and Business for the sale of a second home.  If i updated to Premier, can I write off business expenses as well as business income from the sole proprietor income and expenses?

[Vanessa A]

TurboTax Home and Business covers everything that Premier covers plus business income and expenses.

In TurboTax Home and Business, you can enter the sale of your second home.  This is done in the investment section.

You would enter the sale of the land by clicking the following:

1. Federal
2. Income
3. Show More next to Investment Income
4. Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) 
5. Select Other
6. Continue through and select land for the type of investment (Second Home)
7. Answer how you obtained it
8. You will need to enter the selling price, dates and the cost basis   

Note, your navigation sequence may be slightly different.  You can also use the Jump to feature by entering investment sale in the search bar at the top of the screen.