KathrynG3
Expert Alumni

Investors & landlords

Yes. Typically, a rental property sale would be reported in TurboTax Premier or TurboTax Self-Employed. Click the link for more information about how to report the sale of a rental property for regular sellers.

 

We are presuming you are a regular seller. However, OP-236 for Connecticut is used by grantors. If this property was owned by a trust, the sale of the property should be reported through the trust, which would be reported on Form 1041 Schedule K-1. If you do have a trust, but report trust details directly on your tax return, then there is no concern for the property sale to be reported on Form 1041 Schedule K-1.

 

Related resources when reporting the sale of a rental property:

Depreciation recapture when no depreciation has been taken or

Passive activity losses that would be available to offset any gains or state level issues.

 

Please post again if you have more questions about how to report the sale of your rental property.