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Selling second home seems pretty straight- forward? Just a few lines on tax return?

I sold second home and I notice turbotax just fills out the schedule d with list the description of property with date I acquired and date I sold and what I paid for property and what I sold the property for. is that it for selling second home? This was not a rental. Seems pretty straight forward and nothing was asked like my agent fees or what improvements I made to property?

 

it seems similar to selling a long term stock it seems. 

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1 Reply
KrisD15
Expert Alumni

Selling second home seems pretty straight- forward? Just a few lines on tax return?

Yes, however if you click the "Learn More" link next to the box to enter PROCEEDS it instructs you to subtract selling fees, so you might want to go back and adjust for that.

 

  1. Real estate commissions
  2. Transfer tax
  3. Legal fees
  4. Advertising fees
  5. Home inspection reports
  6. Title insurance
  7. Geological surveys
  8. Loan charges (points) or other fees paid on the buyer's behalf

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