I'm doing a "what if" tax scenario for an upcoming rental property sale. The property has never been my primary residence and has been classified as a rental property for all 15 years I’ve owned it. 12 of the 15 years had a high business use percentage as I only used the property for less than 14 days those years. Three of the years, including this one, had higher personal use percentages, 40-60%.
When I enter the sales information, TurboTax assumes the business use percentage of the current year (which is low) was the same for all years I've owned the property, which is causing my gain to be much higher than it should be.
When I get to the "Special Handling Required?" screen, one of the choices is " The business use percentage of this asset varied during the years you owned the asset. Learn more." When I click the “Learn more" link, TT Help tells me the "... program cannot automatically compute the sale information"
Does Intuit provide any resources (web site link maybe) to help me manually complete the sale information as I am stumped as to how to proceed?
