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

CS
Level 1
 
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TaxGuyBill
Level 15

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.

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2 Comments 2
TaxGuyBill
Level 15

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.

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garman22
Level 13
Level 13
Agreed. It is just an investment piece of property for the time being.
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