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Received a deed in lieu of foreclosure on a property I held a note on. Immediately sold the property and had a loss on the sale. What form do I use to report the sale?

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Level 1

I am using ProSeries Professional on Windows 10. I filled out form 6252 but instructions are not to file it with the return if there is a loss. I have to show the sale on my return because the sale is being reported to government. Which form or worksheet do I show the sale?

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Level 15

But you may not have a loss to report because you might have a gain resulting from getting the property back in the foreclosure.  You might want to do a little research on the issue before proceeding.

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.

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Level 15

But you may not have a loss to report because you might have a gain resulting from getting the property back in the foreclosure.  You might want to do a little research on the issue before proceeding.

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.

View solution in original post

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Level 8
Just a fact clarification:  you sold it on installment method, got it back and again sold it on installment method?
Another clarification:  there may be more than just a little research needed.
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Level 15
Someone evidently doesn't find the word "research" helpful.
ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
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Level 1
I apparently wasn't clear on my question. All I wanted to know was how specifically to open a form 8949 in ProSeries. I was having trouble getting the form to open. I have since researched it more and finally got the form to open. Thank you for your responses.
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