Investors & landlords

There are two places to enter the sales, under the basic info for the Property Profile and under Assets/Depreciation from within the applicable rental (in that order). Be sure to continue through the entire section.  The full instructions are linked here - How do I report the sale of my rental property?

You'll need to mark the rental property as sold in two places.   If you've been using TurboTax, you'll have your rental information carryover. If not, you'll need to add it.  The software asks all the relevant questions.

Mark the Rental Sold Under the Property Profile:

• Head into Rental and Royalty Income and answer the basic rental questions >>>
• select to Edit the applicable property (or you'll just start adding the rental) >>>
• Select Update next to Property Profile >>>
• On the screen titled Do any of these situations apply to this property? be sure to indicate I sold or disposed of this property in 2023 by selecting the checkbox.
• Be sure to answer the questions that follow to continue through the

Select the House Sold Under Assets/Depreciation and Enter Sale Information:

• When you are back at the Rental Property Summary Screen select Edit/Update/Start next to the Assets/Depreciation section. 
• You'll need to answer through the election questions the first time you update this section, this year (but you can skip them after that).
• On the summary screen of assets listed under this rental property, click edit next to the house asset (or add it)
• On the first screen you'll be able to check the box to indicate that you sold or disposed of this asset this year.  
• Be sure to answer through this entire section to report all information.