Hello,
This year I received money as a result of a lease buyout of the home I was renting. I rented this home for more than 1 year and my research indicates this should be taxed as Capital Gains and not Ordinary Income.
Upon researching similar TurboTax support articles, users were instructed to enter this type of income as Less Common Income - Miscellaneous Income. However when entering information this way, it is processed at the Ordinary Income tax rate and not Capital Gains and significantly alters the federal and state return amounts.
How would a user enter this type of income and indicate it should be taxed as Capital Gains?
Referenced support article
https://ttlc.intuit.com/community/taxes/discussion/how-do-i-report-income-from-an-apart[product key ...
