Hi Coleen,
Thank-you for getting back to me again.
Yes, I indicated that the asset was included in the sale of my main home.
The odd thing is that as soon as I:
- Checked the box "The item was sold, retired, destroyed ....."
- Entered the "Date you Sold" in the "Rental Asset" section of "Your Property Assets" section
- And clicked "Continue"
- TT adds the net gain of the sale to "Net California Adjustments" line
- And increases my “California Taxable Income” by that amount
- TT also increases the "Federal Adjusted Gross Income" by the "2019 Estimated Expense for this asset”.
- If I uncheck the box "The item was sold, retired, destroyed ....."
- Click continue
- The net gain of the sale to "Net California Adjustments" line is removed
- TT Decreases the "Federal Adjusted Gross Income" by the "2019 Estimated Expense for this asset”
- At this point I haven't even gotten to the "Was this asset included in the sale of your main home" question.
I'm baffled, as I have gone back and looked and relooked at all the questions and tried different things, but it always keeps coming back to the scenario I described above.
To be honest, seems like a glitch/coding problem ... but what do I know! 🙂
Dan
