In TurboTax Online, to report sale of the rental property, follow these steps:
- Down the left side of the screen, click on Federal.
- At the top of the screen click on Wages & Income.
- Under Your income, scroll down to Rentals, royalties and Farm. Click Show more to the right.
- Click Edit / Add to the right of Rental Properties and Royalties.
- At the screen Your 2020 rentals and royalties summary, click on Edit to the right of the rental activity.
- At the screen Here's rental property info, scroll down to Assets (Depreciation) and click Edit to the right of the rental property.
- Click Yes, I want to go to my asset summary.
- Click Edit next to the asset that was sold.
- At the screen Tell us more about this rental asset, click The item was sold, retired, stolen, destroyed, disposed of, converted to personal use, traded in, or given away.
- Enter the date sold. Click Continue.
- Follow the interview questions to report the sale.
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