We bought our house in 2010. In 2012 we had to move out of state for work and have rented it ever since. We sold it September 2020. The sale price was only $9k more than we bought it for and we had roughly $30k in closing costs and expenses at the end of the sale. Turbo Tax is calculating that we have a $54k taxable gain on the sale. This is after we are recognizing a loss on the rental income this year. That doesn't seem right. What did I do wrong?
