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Investors & landlords
if you got hold of all cash from the sale of the old property and used whatever for personal purposes you do not have a qualified 1031 exchange. the entire transaction is taxable. you report the sale of the old property through whatever schedule E in Turbotax form you reported the rental. if sold at a gain you will owe taxes on depreciation recapture and if your gain exceeds depreciation allowed or allowable the balance would be capital gain. you bought a new property which evidently is also a rental that needs to be entered in TurboTax on a new schedule E/rental. If you don't understand how to record the sale of the old and the purchase of the new properties, then you should consult with a tax pro to make sure things are reported correctly.