Property (Basis, Sale of Home, etc.)
Question: How do you report the sale of a second residence?
Your second home (such as a vacation home) is considered a personal capital asset. Use Schedule D (Form 1040) (PDF), Capital Gains and Losses, and Form 8949 (PDF), Sales and Other Dispositions of Capital Assets, to report sales, exchanges, and other dispositions of capital assets.
- Publication 527, Residential Rental Property (Including Rental of Vacation Homes)
- Instructions for Form 8949 (.pdf), Sales and Other Dispositions of Capital Assets
- Publication 587, Business Use of Your Home
- Tax Topic 409, Capital Gains and Losses
- Instructions for Schedule D (.pdf), Capital Gains and Losses
- Tax Topic 703, Basis of Assets
- Publication 544, Sales and Other Dispositions of Assets
Category: Capital Gains, Losses and Sale of Home
Subcategory: Property (Basis, Sale of Home, etc.)