If it was rented in 2020, enter your income, expenses and sales information in the Rental section. The sales info will be in the depreciation/asset section. You will be asked all the pertinent information.
If you had no rental in 2020, enter the sale in Sale of Business Property.
1) Wages and Income
2) Other Business Situations
3) Sale of Business Property
4) Other Property Sales
5) Select Sales of Business or Rental Property that you haven't already reported
6)Choose No to the question, "Do all of the following apply to the property you sold?".
7)Choose Yes to the following screen that asks, "Do any of the following descriptions apply to the items you sold?".
8)Select the type of property from the drop down box.
9)Enter the information for your sale
Ideally, if you had been using TurboTax all along, your purchase price and improvements would have been recorded when you first entered the information into the program.
