Question

Where do you put sale of 2nd property

Forum|Forum|7 years ago
June 6, 2019
1 reply
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We sold our primary residence in 2016 and meet the requirments and won't have to pay taxes on that gain. We also sold a 2nd property, mainly real estate, not the house so much, at a gain. Where do we place that in turbo taxand how is it taxed? Long-term gain if held over a year and short-term is held under a year.?

TurboTax Premier Online

DoninGA

Employee

To enter an investment sale other than from a brokerage account (1099-B), follow the steps below.

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Under Investment Income
On Stocks, Mutual Funds, Bonds, Other, click the start or update button

Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales

On the next screen, click Yes

On the next screen, click No

On the next screen, choose the option that pertains to the type of investment sale you are reporting and continue with the section until it completes.