If you sold a current rental property, report this in the Rental section.
EDIT your property and indicate in the Property Profile that you sold the property.
In the Sale of Property/Depreciation section, EDIT your property asset and report the Date of Sale, plus Date Started Using for Business (if used personally prior).
TurboTax calculates the Prior Depreciation amount. You will then enter the Asset Sales Price, Asset Sales Expenses, and Land Sales Price/Expenses.
If you are reporting the sale of a Rental Property that is not currently reported as a rental, report the sale under 'Sale of Business Property'. Type 'sale of business property' in the Search area, then click on 'Jump to sale of business property' to get to this section.
Check the first box 'sale of rental property that you haven't already reported.'
If you lived in the home for two of the five years prior to sale, you may be able to exclude part of your Gain on the sale of the rental property.
If this applies, type 'Sale of Home' in the Search area, then click on 'Jump to sale of home'. You will need to enter the Prior Depreciation amount TurboTax calculated for you when you reported the sale of the rental previously.
[Edited 03/29/2022 3:13 pm]
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
