CathiM
New Member

Investors & landlords

If you use the conversion to personal use option, TurboTax will take care of the depreciation recapture at the date of the conversionYou 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.

  1. (To do this, sign in to TurboTax and select Take me to my return button.)
  2. In the search box, search for sold second home (use this exact phrase) and then select the "Jump to" link in the search results.
  3. 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.

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