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Level 2
December 7, 2019
Solved

My clients purchased a principal residence. Where do i account for the previous principal residence until it sold.

  • December 7, 2019
  • 1 reply
  • 6 views
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Best answer by TaxGuyBill

Why do you need to "account" for it?

If there is mortgage interest and real estate taxes, those may be eligible to be a deduction on Schedule A.  Otherwise, there isn't really anything to "account" for on the tax return.

1 reply

Level 15
December 7, 2019

Why do you need to "account" for it?

If there is mortgage interest and real estate taxes, those may be eligible to be a deduction on Schedule A.  Otherwise, there isn't really anything to "account" for on the tax return.

Intuit Community Champion
December 7, 2019
Agreed. It is just an investment piece of property for the time being.