How and where do you report the sale of rental/investment property?

[TJPOOLE123456]

Are there any reductions or deductions available to reduce the capital gains tax on the sale of rental property?  I don't know like putting money into an IRA or other "retirement" account?  

I do not want to send the government a check for $30,000!

[PattiF]

In TurboTax Online, to report the sale of the rental property, follow these steps:  

• Down the left side of the screen, click on Federal.
• At the top of the screen click on Wages & Income.
• Under Your income, scroll down to Rentals, royalties, and Farm.  Click Show more to the right.
• Click Edit / Add to the right of Rental Properties and Royalties.
• At the screen, Your 2020 rentals and royalties summary, click on Edit to the right of the rental activity.
• At the screen Here's rental property info, scroll down to Assets (Depreciation) and click Edit to the right of the rental property.
• Click Yes, I want to go to my asset summary.
• Click Edit next to the asset that was sold.
• At the screen Tell us more about this rental asset, click The item was sold, retired, stolen, destroyed, disposed of, converted to personal use, traded in, or given away.
• Enter the date sold.  Click Continue.
• Follow the interview questions to report the sale.

@Coop5k9