where do i enter the sale of personal property on a residential home sale

Forum|Forum|3 years ago
April 8, 2023
2 replies
23 views

I HAVE A CLIENT THAT SOLD THEIR HOME AT A GAIN. IN ADDITION, THEY SOLD ALL OF THE FURNISHINGS IN THE HOME. WHERE DO I REPORT THE SALE OF THE FURNISHING. THE HOME SALE FORM SPECIFICALLY STATE NOT TO INCLUDE THE FURNISHINGS(PERSONAL PROPERTY) IN THE SALES PRICE OF THE HOME.

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Just-Lisa-Now-

Intuit Community Champion

Sounds like directly on Sch D then, do you have basis for the furnishings?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

L

LCMAuthor

Level 2

I AM ENTERING ZERO BASIS. I CANNOT UNDERSTAND HOW TO ENTER DIRECTLY ON SCHEDULE D. THE OPTIONS ARE NOT AVAILABLE. I THINK I AM JUST GOING TO ENTER THE ADDITIONAL FUNDS RECEIVED AS ANOTHER HOME SALE WORKSHEET SHOWING THAT A 1099S WAS NOT REPORTED WITH THE AMOUNT AND SHOW A ZERO BASIS. I THINK THIS WILL HANDLE IT PROPERLY. I JUST DON'T WANT IT TO FLAG ANYTING WITH THE IRS