Get your taxes done using TurboTax

If you had any rental income in 2020, enter your income, expenses and sales information in the Rental Section. See the screenshot below. You will be guided through the questions related to the sale.

If you did not, enter the information in Sale of Business Property. Make sure that you have at least a copy of your 2019 return so you can add in the prior year's depreciation in addition to 2020's.

1) Wages and Income

2) Other Business Situations

3) Sale of Business Property

4) Other Property Sales

5) Select Sales of Business or Rental Property that you haven't already reported

6)Choose No to the question, "Do all of the following apply to the property you sold?".

7)Choose Yes to the following screen that asks, "Do any of the following descriptions apply to the items you sold?".

8)Select the type of property from the drop down box.

9)Enter the information for your sale.