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Sold a second home with a rental unit in 2018.
Purchased 2nd home in 2001 for $120,000. Had a garage with rental unit above it constructed in 2004 for $80,000. Rented the unit every year since and depreciated it. I have made many improvements to rental and house. Total costs is $280,000. Sold it on 11/15/2018 for $267,000. Net proceeds $251,000. Rented the house with Airbnb for last 2 years. Entered in TurboTax as a vacation with short term rental. Really need TurboTax's help with this one. How do I enter the sale of the rental and house in TurboTax?
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‎June 4, 2019
8:30 PM