My wife purchased a home in 2000, it sat vacant until 2005 due to us getting married and she lived with me. In 2005 we ended up selling my home and moving into hers. In 2013 we moved out and began renting it up until July 28, 2018. We then sold home July 31, 2018. We never depreciated the home during rental years 2013-2018. When trying to enter in the selling information on TurboTax it is saying: "No depreciation data has been calculated for this asset. Please review your entries by selecting the Back button and make necessary changes. You must enter the date you started using the asset, the cost of the asset, and the asset type, before we can continue". I now know we have to complete the form 3115 to recapture deprecation on this rental property since it was never filed nor claimed. So do we complete our 2018 taxes as is and not enter in any information about selling the property (as it is not even allowing us to enter it since it was never depreciated) and send in the 3115 form and then go back and amend 2018 taxes to record the sell of the property?
Basically, what do we do since TurboTax is not allowing us to enter in the selling information? Or is there an additional form we can fill out where we can state that we sold the property and list the 1099-S?
Thank you in advance for any advice or information!!!
