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Get your taxes done using TurboTax
If you never rented the property, you will not report this in the SCH E section. It's not a rental property and never was while you owned it. You'll report the sale of this property in the Investments section. Since you had it for less than a year, it's a short term investment and you'll pay the higher short term investment gains tax on any gain realized.
Make sure you delete this specific property from the Rental & Royalty Income (SCH E) section of the program. Then report it in the Investments section.
‎January 3, 2023
6:24 AM