Sale of 2nd Home

[richw1]

I'm trying to enter the sale of a second home on the Sch B Worksheet in ProSeries Basic, but there is no code for "sale of second home".  Any suggestions?

[rcooley25]

Your on the wrong schedule. Schedule b is for interest and dividend income.

[Just-Lisa-Now-]

Sch D/8949 is where it belongs, similar to a stock sale.

You wouldn't choose a category, except maybe Code L for personal sale, no loss allowed.

Basic is set up really different than Professional,  Im not sure how to direct you to the proper place in Basic, sorry.

[Camp1040]

I use basic, go schedule D 1099-B worksheet, use that even if your client received a 1099-S, no special form needed for 2nd home, but loss not deductible.

[Just-Lisa-Now-]

Ahh, ok, when I typed D in the Where Do I Enter in Basic, it threw me down into Part 1 of Sch D, not at the top with the 1099B worksheet options.

[richw1]

Yes....sorry...that was a typo...I was on the Sch D worksheet...lol

[Camp1040]

@Just-Lisa-Now-  there is a box at the top of the form "report investment sales on the form 1099-B worksheet. You can also double click the Schedule D line on the 1040 Worksheet.