Follow these steps to enter the sale of your rental property.
- With your return open in TurboTax, search for rentals and then select the Jump to link in the search result.
- Answer Yes to the question Did you have any income from rentals or royalties?
- When you get to What are you here to report? select Rental property and fill out the description, address, and owner.
- When you hit Tell us about your situation this year check the Sold box along with any other boxes that may apply.
- Continue following the onscreen prompts to enter info about your rental property.
- When you get to the Review your rental property info screen. You can report the sale in the Expenses/Assets (Depreciation) section, along with any other pertinent info (like income and expenses)
- You do not enter the capital gains directly, TurboTax will automatically calculate your capital gain or loss on the sale using the information you have provided.
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