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    Sale of Home

    Client owns a second home that client never lived in nor rented out. Clients daughter lives in house rent free. Client receives 1099-S (1098-S?) from title company reporting the sale.

    Property is sold at a loss? How and where to report sale? SchD with no loss???
    I assume no loss allowed as it is not commercial property.
    Confucius say:
    He who sits on tack is better off.

    #2
    Sale of 2nd home

    Maybe incorrect, however, would say report on Sch. D with the basis the same as
    the sales price. Zero gain or loss.

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