I sold my rental property last year and TurboTax calculated a gain. This year's return shows an amount on Schedule E for depreciation on that property. Is this ok?

livin-my-dream · ‎June 6, 2019

MinhT · ‎June 6, 2019

Your sold property was transferred to your 2017 return from last year. You'll need to delete the property and all worksheets associated with it.

To delete it, please follow these steps:

In TurboTax, open your return
In the left-hand column, locate Tax Tools, click on the drop-down arrow then click on Tools
On the Tools Center page, click on Delete a form
A list of forms will appear. Locate the Schedule Worksheet (property address) and click Delete next to it.
On the next screen, click Delete Form
Continue to delete all Worksheets related to the property address.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

livin-my-dream · ‎June 6, 2019

doesn't seem right to get a deduction in 2017 on a property I sold in 2016.

MinhT · ‎June 6, 2019

Your sold property was transferred to your 2017 return from last year. You'll need to delete the property and all worksheets associated with it.

To delete it, please follow these steps:

In TurboTax, open your return
In the left-hand column, locate Tax Tools, click on the drop-down arrow then click on Tools
On the Tools Center page, click on Delete a form
A list of forms will appear. Locate the Schedule Worksheet (property address) and click Delete next to it.
On the next screen, click Delete Form
Continue to delete all Worksheets related to the property address.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.