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Hospmedic
April 15, 2025
Question

I sold a second home and Im not sure where how or where I input proceeds and total amount paid. how do I calculate the amount?

  • April 15, 2025
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    1 reply

    SharonD007
    SharonD007
    April 15, 2025

    The sale of your second home will be entered  in the Investments section of TurboTax and will be reported on Schedule D.  You can calculate the adjusted cost basis by adding capital improvements made to the home plus the selling expenses to the basis.  

     

    Refer to the TurboTax article Cost Basis: Tracking Your Tax Basis and Where do I enter the sale of a second home, an inherited home, or land on my 2024 taxes? for more information.

     

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