@Rick19744 wrote:
Additionally, I would make sure that you have some realistic position of how you are allocating the sales price.
Yes, absolutely, and TurboTax makes this rather difficult.
Whereas professional tax preparation software has the ability to link various assets (improvements) to the main asset (e.g., the main rental structure), TurboTax does not. As a result, users have to perform the calculations manually and enter a sale for one asset, or "sell" each asset separately in the program (which requires allocations).
I am not convinced that the foregoing is not deliberate but, regardless, it is one component of the program that Intuit should fix.
