PaulaM
Employee Tax Expert

Investors & landlords

Do you have the property listed as a rental in TurboTax? If so, enter the sales details in the rental section. You have to indicate that the property was sold in two locations (property profile and sale of property/depreciation).

If not, you can enter the sale as a Sale of Business Property under Business Items. Enter the description, date acquired,date sold, sales price (less the expenses), cost and depreciation taken. The gain/loss will be recorded on Form 4797.

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