Question

Problem entering second home sale in Investment Income.

Forum|Forum|5 years ago
February 12, 2021
1 reply
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Hello,

I am trying to enter the sale of my second home into the investment income section and can't get to the screen that will let me select "Second Home."

I click on Wages & Income, then click on "Visit All" under "Investment Income." I then get a screen asking "Did you sell any investments in 2020? Under that heading it states Stocks, Bonds, Mutual funds, A Second home, Collectibles and Personal items. It then says "Forms covered in this section: 1099B, 1099S, brokerage statements.

I click "YES", I then get to a screen that says "Did you get a 1099B or a brokerage statements for these sales? I click on "NO."

The next screen only says "Tell us about this sale" and has two things to pick from. "I'll enter one sale at a time" OR "I'll enter a summary for each sales category."

Nowhere does it says anything about a second home! I originally had input all of my taxes up to this section using TurboTax Deluxe, but read you needed Premier to enter a second home, so I downloaded and updated the software to reflect the Premier software.

The identical screens come up in this section as with deluxe, except a new section added on called "Rental Property and Royalties, which doesn't help me.

Any help would be greatly appreciated. Pulling my hair out!!

Thank You

A

Anonymous_

Employee

You are in the proper section and simply need to enter the information from the sale of your second home.

Note that a subsequent screen will contain a box you will need to check if you sold your second home at a loss since losses from sales of personal use property are not deductible.

Further, if you have ever rented your second home and claimed depreciation deductions, you will need to use a different approach.