Sold a Property Abroad

[gonzalezceq]

In 2024 I sold an apartment in Venezuela for $53.000, it was closed and was not rented it. The document of the sale is in Bolivares (Venezuela Currency) but they transfered me to my US account (Chase) the equivalent amount ($53.000). Also when I bought it in 2016 it was in Bolivares and the US equivalent amount at that date was $86.000, therefore I had a lost. Do I need to report this transaction now when I file my taxes and how I report it? Thanks in advance for yoir answers

[RobertB4444]

The apartment is a second home treated as an investment.  

When entering it into TurboTax you'll go to the 'Wages and Income' section and scroll down to 'Investment Income'.  You'll click on the first link there 'Stocks, Cryptocurrency, Mutual Funds, Bonds, Other' (real estate is the other).  You'll enter all of the details on the house including the date that you sold and purchased it.  

You'll have a capital loss that you can deduct against other capital income or against regular income at the rate of $3,000 a year.

@gonzalezceq