I have questions related to rental sale.
Assume a rental property is sold in 2024. How to file it at TurboTax desktop version?
Does it involve the below steps?
1.) Under business section, go to Sch E section, enter property sold date to let the software calculate partial depreciation amount?
2.) Under personal income section, go to 1099B under investment income, enter aquisition price, cost basis of property, and sales expense, obtain capital gain amount ?
Here are my questions:
1.) Where to find out cost basis of the property and accumlated depreciation amount?
2.) How to enter these two data at TurboTax desktop?
3.) Does TurboTax calculate depreciation recaputure itself?
if "YES", where to review it.
If "NO", where to enter it?
