csanchez
Level 4

Do you report the sale of a 2nd home/vacation home on the Home Sale Worksheet & just indicate "Not eligible for Exclusion"?

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Just-Lisa-Now-
Level 15
Level 15

No, that will automatically show up on the 8949 as Sale of Main Home, you don't want that if its not the main home.

Just use the 1099B worksheet, scroll down to the entry table and enter it there as Sale of Second Home.


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TaxGuyBill
Level 15

@Just-Lisa-Now- wrote:

No, that will automatically show up on the 8949 as Sale of Main Home, you don't want that if its not the main home.


Really?  If you indicate it doesn't qualify for the exclusion, I wouldn't think it would work fine.  What does it show on the 8949 to indicate it was a main home?

 

Just-Lisa-Now-
Level 15
Level 15

when you use the Home Sale worksheet, it pulls the description to the 8949 like this, its not editable.  Even if you mark NO to the questions about living in it 2 years and the 121 exclusion.

mainhomesale.png


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TaxGuyBill
Level 15

Interesting, I didn't know that.  Thanks.

 

 

Do I just go to capital gains and enter the information about the sale there ? 

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