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Get your taxes done using TurboTax
If you sold a Rental Property, you need to first report the Sale in the Property Profile and Assets sections of the Rental topic.
You will use the info from the 1099-S to report the sale, but not enter the 1099-S itself.
Pay close attention to your entries, if the rental was at any time your main home, as you may qualify for partial exclusion of the Capital Gain.
Any carryover Rental Loss can be utilized when reporting the sale. You will need the Sales Costs and Accumulated Depreciation amounts.
Here's more info on How to Report Sale of Rental Property.
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March 2, 2024
8:30 AM