KrisD15
Expert Alumni

Get your taxes done using TurboTax

First Enter the 2023 Tax Year Expenses/Income for the Rental property.

After the expenses and depreciation for 2023 is calculated, scroll down to 

"Sale of Property/Depreciation"
Select "No" if you need to enter 2023 information and finish that interview, 

NOTE - BE SURE YOU SELECT RENTAL REAL ESTATE PROPERTY on the first screen

NOTE - BE SURE YOU SELECT RESIDENTIAL RENTAL REAL ESTATE  on the second  screen to enter the basis/cost of both building and land separately

NOTE - BE SURE YOU SELECT ALL THAT APPLY (not just one ) on the next screen including "The item was sold..."

Enter the details of the sale making sure ALL assets are accounted for including the land.

 

HERE is a link with more information 

 

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