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Where do I enter the sale of a second home?

Updated: 12/14/2012

Article ID: HOW18282

A house that you own and use (other than your main home) is considered a second home, whereas a home that you rent out for the full year is considered a rental property. More about rental properties

Examples of second homes include vacation cabins, homes inherited from relatives, condos that your college-age children live in, motor homes, RVs, even boats and travel trailers.

To qualify as a second home, the dwelling must include sleeping, cooking, and toilet facilities.

Here's how to enter the sale of a second home in TurboTax:

Open your return in TurboTax.
Click the Federal Taxes tab (Personal tab if using Home & Business), and then click Wages & Income below it.
Proceed to the Your 2012 Income Summary screen and scroll down to the Investment Income section.
Click Start or Update next to the first subtopic, Stocks, Mutual Funds, Bonds, and Other. (The sale of a second home falls under "Other".)
Follow the on-screen instructions.
- If you're using the Premier or Home & Business versions, we recommend that you choose EasyGuide rather than the spreadsheet method.

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