If losses on the sale of a second home are not deductible, why does Turbo Tax add them to your carryover losses.
I keep entering a loss on a second home that I received a 1099S from for. We sold at a loss. The loss is not deductible but Turbo Tax is adding the loss to my loss carryforward for next year. I don't think that's correct. Nowhere did is ask if this was a second home.