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February 19, 2025
Question

Short term loss on a second real property.

  • February 19, 2025
  • 1 reply
  • 0 views

Hi. I bought a new construction single family home as an investment, but due to the recent market downturn, immediately sold it within one year at a loss (cut my losses).  I received a 1099-S from the real estate broker. Where do I enter this transaction in TurboTax Premier and Is that short-term loss deductible?

I appreciate the help.

Mitch

    1 reply

    KrisD15
    February 19, 2025

    Enter that under 

    • Investment Income
    • Stocks, Cryptocurrency, Mutual Funds, Bonds, Other    START 
    • Select ADD INVESTMENTS if necessary 
    • Skip Import
    • Select "Other" 
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