Investors & landlords

Yes, TurboTax can handle that. A portion of the gain will be taxable due to rental use days and depreciation expense.

1. Say 'No' to 'Special Handling'. TurboTax will stop the depreciation at the appropriate month.  
2. When you get to the 'Home Sale' screen answer 'Yes'.
3. Answer 'No' it was not a separate dwelling
4. Answer 'Yes' to 'Do you want to report the sale of this asset on the Home Sale Worksheet for your home sold?'
5. Continue to answer the questions about sales price and sales expenses, and Time lived in the home
6. Answer the number of days it was used for rental purposes 
7. Complete this for each asset that is part of the rental property taking note of all depreciation and cost basis for each asset (if there are more than just the home and land).
8. See the images below to get started.