Client sold their vacation home in Costa Rice for a $3,000 loss. Not sure where to enter since the loss is not allowed.
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Ummm Nowhere?
Unless there was a F 1099-S issued (unlikely for foreign property).
Just don't overlook that they may have ended up with a "Foreign Financial Asset" meeting the requirements to be reported.
Sch D, use the 1099B worksheet, scroll down past the 1099B info section, Doubleclick on the entry line to get a screen where you can choose vacation home so it will assign Code L and not allow the loss.
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Thanks Lisa
