DavidD66
Expert Alumni

Investors & landlords

There is a screen near the beginning of the rental section with an option for "I sold or otherwise disposed of this property".  Indicate that you did.  Continue with the section as through you still have the property.  When you get to the summary screen, enter all of your rental income and expenses, even if they are zero. Then you MUST work through the "Sale of Assets/Depreciation" section. You must work through each individual asset one at a time to report its disposition, which in your case, your rental assets were given away, not sold.  

You will select the option for "I stopped using this asset in 2021."  Note that you MUST do this for EACH AND EVERY asset listed. For each asset you will have a screen that presents, "Special Handling Required?" You "must" select yes. If you select no, then you will be required to enter sales information.   

 

When you roll over your return next year, the program should not transfer any of the rental information into your new return.

 

Be sure to print and save (hard copy, PDF, or better - both) copies of all the related pages.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"