So I purchased a rental property a few years ago and have made various improvements to it over the years, with over $200K invested across these on top of the original property itself. I sold this property last year and from my understanding of how TurboTax handles assets on a real estate property, I need to individually mark each asset as no longer in use and sold. What I can't quite figure out is how do I allocate the sales proceeds across these assets? Should I figure out what percentage of my investment was the original purchase and what was improvements and split the sales that way too? I don't understand why TT can't just automatically do this. 😕
