In 2018 we paid for demolition of a single family residential rental property. We had rented the property for the previous 34 years. Property was fully paid and depreciated. In 2020 we sold the property as vacant land and received a 1099-S. No rental income was derived from the property in 2019 or 2020.
Where and how do we enter this on Turbo Tax. We have tested entries (on our 2019 Turbo Tax) for sale of property and sale of rental property with no success. Any advice is much appreciated.
