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Level 2
posted Jan 19, 2023 10:42:11 AM

Sold my parking spot in a condo building at a loss, after closing costs and assessments, where would I enter this in Turbotax?

Sold my parking spot in a condo building at a loss after closing costs and condo's assessments on the building, where would I enter this in Turbotax? This parking space has it's own deed, never rented out and was sold in 2022. Note that this was brought in 2014.  Thank you.

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1 Best answer
Level 15
Jan 19, 2023 10:43:50 AM

it would be a nondeductible personal loss but if you got a 1099S you need to report it. and use code L 

2 Replies
Level 15
Jan 19, 2023 10:43:50 AM

it would be a nondeductible personal loss but if you got a 1099S you need to report it. and use code L 

Level 2
Jan 19, 2023 10:49:43 AM

Thanks Mike. Given that there is no 1099S issued and no gain, as it's at a loss. Assuming no reporting necessary, as it's non-deductible loss.