I've had a rental duplex (2 units in one building) for several years and always treated the duplex as a single multi-family property on Schedule E. I've been depreciating the building for several years using Turbotax.
During 2024 (October) I sold 1 side of the duplex and kept the other side. 2 Questions:
1) How do I tell Turbotax (for Mac) that I sold 1/2 of the property so it can compute the depreciation properly?
They key question comes up when editing the depreciable asset in Schedule E that reads "Did you Stop Using this Asset in 2024?" If I say yes, it assumes that I sold or disposed of the entire property, not just half.
2) I took the proceeds of the half duplex I sold and did a 1031 Exchange (with the purchase in 2025). I was issued a 1099 for the proceeds of the sale. How do I handle the 1031 exchange in TurboTax (for Mac)?
Thank you.
