Is this correct? As I recall Turbotax directed me not to enter the information relating to the mid-year sale of my rental property in the rental section, but in the section for the sale of business assets. The rental section, it said was for the profit or loss related to the portion of the year the property was rented out before sale.
Entering it as directed by Turbotax resulted in a massive increase in my "taxable income" and a very large capital gain obligation.
