Not sure if it's because we're using different editions of turbotax or it's because I previously started entering rental data, or something else, but the text of the questions aren't lining up exactly. They seem similar but since the subject is a little over my head I'm not sure if a subtle difference could be relevant or not. For example, when I "Jump to" rentals I'm never asked "What are you here to report?". I am asked if I want to review my rental and royalty information (I click yes), then I confirm I'm not a real estate professional (click none of the above), and then click "edit" on the property I previously entered.
From there I clicked "update" next to the "property profile" section and worked through that info ensuring that I clicked the "I sold or disposed of this property in 2021". (And I feel compelled to point out once again that the "Learn More" link next to that box specifically says not to do that if the disposition was to a related party which mine as noted in the original post.)
This time around when working through the "sale of property/depreciation" section I noted that I "stopped using" all the assets in 2021 as suggested in anther reply to my post (something I failed to do before). I only have two assets listed, some air conditioners and the rental unit itself.
Is that all I need to do? It seems really weird/counterintuitive that I'm never prompted for how much I sold the rental for. Hypothetically if I sold it for $1M more than I paid for it I haven't entered that info anywhere which doesn't make sense to me since I'm confident uncle sam would want to tax any profit I made.
