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). Continue to enter the sales price and expenses in the Sale of property/depreciation section. See 1st three thumbnails below.
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. See last two thumbnails below.
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