How you file would depend on how you reported the business income and expenses of the church on your tax return. For the most part though, you would allocate the net sales proceeds to the assets sold and then report the sale of each asset separately.
For instance, if you reported the business income and expenses as a sole-proprietor on a Schedule C, you would update your business assets in the self-employment section and assign a portion of the net sales proceeds to each asset, based on a reasonable method, such as the fair market value of each asset. If there was mostly just a building that was sold, you could allocate $0 to the sale of the other assets and allocate the full net proceeds to the building. That way, you clear each asset off your tax return and at the same time report the sales proceeds.
You would update your business entries in TurboTax. You would choose Update on the Business Income and Expenses screen in your business section that says Lets gather your business info. On the next screen you'll see Business Assets and you need to update that. You will come to a screen that says Tell us more about this asset/large purchase. One of the choices will be to indicate that you sold or retired the asset. Choose that option and later you will see where you can enter the net sale proceeds and cost basis of the asset.
Also, you need to edit your Business Profile and on the screen that says Lets Confirm your Business info, edit the entry that says Disposed of business in current year to say "yes."
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