Second Home Sale

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  • Consultant
    Member
    • Mar 2014
    • 38
    #1

    Second Home Sale

    Client bought home for son to live in while at college. 4 years later he sold
    it at a loss. Never rented or depreciated. 1099-S received. I believe report on
    Schedule D & somehow calculate no loss or gain. In other words it is a personal asset.
    Tags: None
    • Uncle Sam
      Senior Member
      • Jul 2006
      • 1461
      #2
      Correct answer
      Uncle Sam, CPA, EA. ARA, NTPI Fellow

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