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Investors & landlords
You would find the screen in the Rental section. You will have to add the improvement amount to the cost. There is no other entry point, since it was not eligible for depreciation.
Full steps for entering rental property:
- The first entry for the sale is found during the set-up of the property: Tell us about your situation this year/Click Sold or disposed of property
Next, the asset section of expenses will already be checked:
*Assets
*Sold rental property
Includes info on the property you sold or disposed of. Since we know this applies to you, we've already selected it.
- After you click on Asset, you will be asked about the purchase: Tell Us About This Rental Asset
- In the screen Tell Us More About This Rental Asset, you will indicate the sale the date of the sale and the date you began using it for business. You can see the screenshot in a previous answer.
- Next: Confirm Your Prior Depreciation
- Next: Special Handling Required?
- Next Home Sale?
- Next: Sales Information. This is where you will be asked about the sales price.
‎April 4, 2022
4:07 AM