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March 5, 2025
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Claiming sale of second home

  • March 5, 2025
  • 1 reply
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I bought Deluxe but found it couldn't do a sale of a second home. Should I just buy another program?

    Best answer by DoninGA

    If you are using the TurboTax Deluxe online edition you will need to upgrade to the Premium online editions to enter an investment sale, which is how the second home is reported.

     

    If you are using the TurboTax Deluxe desktop edition installed on a personal computer, follow this procedure to the report the sale - 

     

    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, Cryptocurrency, 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

    Using the desktop editions -

    On the next screen click on Yes
    On the next screen click on Skip import
    On the next screen, select Other and continue

    1 reply

    DoninGA
    DoninGAAnswer
    Employee
    March 5, 2025

    If you are using the TurboTax Deluxe online edition you will need to upgrade to the Premium online editions to enter an investment sale, which is how the second home is reported.

     

    If you are using the TurboTax Deluxe desktop edition installed on a personal computer, follow this procedure to the report the sale - 

     

    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, Cryptocurrency, 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

    Using the desktop editions -

    On the next screen click on Yes
    On the next screen click on Skip import
    On the next screen, select Other and continue

    jo451Author
    March 18, 2025

    Thank you so much for this very good answer.  After being unsure how to calculate what I could claim, your response was a great guide to entering the correct data and finally finishing my return.  Upgrading to Premier was very easy and all the information I had entered into Deluxe transferred without a problem.