Yes it does. You just have to know "the secret" which is in plain site. 🙂 I missed it my first time too.
On the Assets/Depreciation screen click the "Add an Asset" button.
Select Rental Real Estate Property and continue.
Select Residential Rental Real Estate and continue.
Enter your description of the asset.
Enter what you paid for the asset in the COST box.
Enter the "same exact amount" in the "cost of land" box.
Date purchased or acquired needs to be a date in 2019.
Click Continue.
Select "I purchased the asset new" *****AND***** select "The item was sold, retired, stolen, destroyed, ......"
For "Date you sold/retired it from use" enter the closing date of your sale.
Then below that select that the item was used 100% for business. (Business use percentage of 100% won't matter, as there will be ZERO depreciation anyway.)
For "Enter the date that you started using it for business" enter the closing date of your sale.
Click Continue.
If asked about the Special Depreciation Allowance, select No and continue.
On the "Special Handling Required?" screen you *must* select no.
Now continue working it through and you will be asked for sales information on the asset.
On the sales data entry screen, leave the "asset sales price" and "asset sales expenses" totally blank. Not even a zero in either of those boxes.
Enter your sales price of this asset in the "Land Sales Price" box, and your sales expenses for this asset in the "Land Sales Expenses" box.
Just FYI, when sold at a gain I just enter my total sales expenses on the screen for the main property, provided the difference between the sales price of the main property and sales expenses, still show a gain. Then I leave the sales expenses for all other assets blank.
Remember, when selling at a gain, you "must" show a gain on each individual asset listed. Even if that gain is only $1 on some assets. LIkewise, if sold at a loss then you "must" show a loss on each individual asset listed - even if that loss is only $1 on some assets. This is because is some cases (not all cases) the TurboTax program just can't correctly deal with the depreciation recapture on SCH D when you have a loss on some assets, and a gain on others.
