What if I used my second home or vacation home for business or rental purposes?
If you ever used your second home for business or rental purposes, you would need to split your business and personal use of the property. You would only enter the personal portion as an investment sale. See Business or Rental Property for more information on where to enter the business or rental portion.
If you received a 1099-S for your second home sale, you would split the 1099-S amounts between personal and business or rental use of the property.
If you didn't receive a 1099-S and sold your second home for a loss, you don't need to include the personal portion of the property as an investment sale because personal property losses aren't deductible.
If you received a 1099-S for your second home sale, you would split the 1099-S amounts between personal and business or rental use of the property.
If you didn't receive a 1099-S and sold your second home for a loss, you don't need to include the personal portion of the property as an investment sale because personal property losses aren't deductible.
