had a real estate investment property that never got rented out but got sold last year can turbotax handle this kind of transaction or need cpa? the other is just interest and no other income except for sale of this property. Held it for 7 years did nothing but left it there and sold it while there is appreciation.
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Yes, TurboTax can handle the sale of an investment property. Since it was never rented, then it's an investment property assuming you never lived in it.
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but i never took depreciation for 8 years either. I never even put it on tax return since it generated no income and only had expenses which i didn't deduct
Yes, that's correct. A real estate investment property is not going to have depreciation if you never placed the property in service. If you never rented it, there is no depreciation to recapture. It's simply an investment to record and gain/loss computed. To get started, see this link.
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