Follow these steps to access the residential rental asset, then follow the excellent instructions outlined by Carl.
In TurboTax Online, access the residential rental asset as follows:
- Down the left side of the screen, click on Federal.
- Down the left side of the screen, click on Wages & income.
- Scroll down to Rentals, Royalties, and Farm. Select Show more.
- Select Start / Revisit to the right of Rental Properties and Royalties.
- At the screen Your 2023 rentals and royalties summary, select Edit.
- At the screen Here's rental property info, select Edit to the right of each rental property asset.
- At the screen Tell us more about this rental asset, select The item was sold, retired, stolen, destroyed, disposed of....
- Enter the date retired from use.
- At the screen Special handling required, select Yes.
In TurboTax Desktop, access the residential rental asset as follows:
- Select Federal Taxes.
- Select Wages & Income.
- Select I'll choose what I work on.
- Scroll down to Rental Properties and Royalties.
- Select Start/Revisit to the right of Rental Properties and Royalties.
- Select Assets/Depreciation under the Rental Review.
@archimedes
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