Carl
Level 15

Business & farm

The simplest way to report the sale of a single asset in TurboTax, is to report the sale where you have the asset listed.

For example, for a SCH C business you'll have the asset entered in the Business Assets section. Just go to that section, elect to edit the asset and start working it through, Select YES on the screen that asks if you stopped using the asset in 2019 (or whatever tax year you're working on).  On the Special Handling Required screen, select NO. Screens after that will ask you for sales price and any other needed sales information.

The program will *AUTOAMTICALLY* take care of depreciation recapture and will correctly figure any taxable gain on the sale *for you* and all will be reported on the 4797 and SCH D as applicable.