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Investors & landlords
If you use the conversion to personal use option, TurboTax will take care of the depreciation recapture at the date of the conversion. You can use 04/30/17 as conversion date. You can then enter the sale as a sale of investment (second home). I am terribly sorry for your loss.
Here is how you enter the sale for investment property:
Open your return in TurboTax.
- (To do this, sign in to TurboTax and select Take me to my return button.)
- In the search box, search for sold second home (use this exact phrase) and then select the "Jump to" link in the search results.
- Answer Yes on the Did You Sell Any Investments in 2017? screen.
- If you land on the Here's the investment sales info we have so far screen, select Add More Sales.
- Answer No to the 1099-B question.
- On the next screen, select Second Home (choose this also for inherited homes) or Land. Select Continue.
- Follow the on-screen instructions to completion.
‎June 6, 2019
8:08 AM