ThomasM125
Expert Alumni

Investors & landlords

You can't enter the sales amount as a negative number currently in TurboTax.

 

One option to resolve this is If you didn't receive any proceeds, the sales number would be -0- and you would report the cost basis as your loss amount.

 

It is possible that TurboTax will modify the program to allow you to enter a negative amount as a sale amount, as has been done in the past. You may want to wait until February 12, 2021 which is the date the IRS will start processing returns for 2020 to see if the program is updated to allow for the negative sales amount.

 

[Edited 2/2/21 2:55 PM PST]

@dbaskin32

 

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