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hulsebos58
Returning Member

Where to enter sales price of rental home

I need to enter the sales price for my rental home and can't find where to do it. I have told it the property was sold in 2020, and it ask me the date, but not the price.

Here are the sequence of screen shots I go through.

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11 Replies

Where to enter sales price of rental home

Go back to your Rental Summary and click on the Sale of Property/Depreciation to report the sale and the sales price.

hulsebos58
Returning Member

Where to enter sales price of rental home

That's what I did as shown in the sequence of screen shots. No place to enter sales price.

Where to enter sales price of rental home

Not sure where you got off track but after the special handling screen is the personal home residence question and then the sales screen ... look again ...

 

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Where to enter sales price of rental home

Agree with @Critter-3 

This is the sequence from the Special Handling Required? screen when using a 2020 TurboTax Premier edition for Windows.

 

Rental Sale 7.JPG

 

Rental Sale 8.JPG

 

Rental Sale 9.JPG

 

 

hulsebos58
Returning Member

Where to enter sales price of rental home

Here is the Special Handling Required screen shot, followed by the next screen shot. I answer yes and after that I don't get one about home sale. The second screen shot below shows what I get. Some more info: notice in the first screen shot:  it shows in blue type something that is odd: it's as if the home is an asset within the home....1007 Prairie Lakes Dr: 1007 Prairie Lakes Dr.   Does this give a clue? Maybe I entered something incorrectly in a previous year?

 

 

 

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Where to enter sales price of rental home

DOES this sale required special handling of any kind ?   If not then choose  NO not yes. 

 

If it does require special handling the sale is reported in a different section ... click on  the LEARN MORE link for more information. 

hulsebos58
Returning Member

Where to enter sales price of rental home

Yes it does seem to require special handling. It is a rental home. 

Where to enter sales price of rental home

NOOOOO .... in the rental section selling a rental is normal and does not require special handling unless it has one of the items on the list on this page ...  

 

1b.jpg

hulsebos58
Returning Member

Where to enter sales price of rental home

What section do I go to to enter the sale? Will it automatically bring across basis and depreciation?

hulsebos58
Returning Member

Where to enter sales price of rental home

The last item on the list applies. It is a rental. 

Where to enter sales price of rental home

If you had read the LEARN MORE link then you would have seen it is referring to a partial rental of your home and/or a home office.   So if this was 100% a rental  being reported on a Sch E   please choose no. 

 

If it was a partial rental of a personal residence click on the LEARN MORE to see the steps you need to take. 

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