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Investors & landlords
Also, turbotax seems determined to characterize the sale of this rental property as a sale of a "business", but we owned the one single property. We never held it in an llc or pass through entity (whatever the heck that is).
In fact, turbotax put the actual capital gains result from what I entered in the "rental properties and royalties" section down in the "business items" section under "sale of business property"!
When I did the state part of my taxes (Oklahoma), turbotax insisted I tell them my "pass through entity name" and "federal ID number".
‎February 10, 2021
4:50 PM