turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cbarrett1
New Member

How do I enter a rental real estate installment sale including previous years depreciation using TT when I have a loss on the sale?

TT deletes sale when I have a loss on the sale.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
Coleen3
Intuit Alumni

How do I enter a rental real estate installment sale including previous years depreciation using TT when I have a loss on the sale?

You can't use the installment sale form if you have a loss on the sale.

An installment sale is a sale of property where you receive at least one payment after the tax year of the sale. If you realize a gain on an installment sale, you may be able to report part of your gain when you receive each payment. This method of reporting gain is called the installment method.

View solution in original post

2 Replies
Coleen3
Intuit Alumni

How do I enter a rental real estate installment sale including previous years depreciation using TT when I have a loss on the sale?

You can't use the installment sale form if you have a loss on the sale.

An installment sale is a sale of property where you receive at least one payment after the tax year of the sale. If you realize a gain on an installment sale, you may be able to report part of your gain when you receive each payment. This method of reporting gain is called the installment method.

cbarrett1
New Member

How do I enter a rental real estate installment sale including previous years depreciation using TT when I have a loss on the sale?

The link to the IRS information was particularly useful. The interview process worked super when I elected not to enter as an installment sale and during the interview when confronted with an option to skip to a "summary" rather than to "review" my inputs. The review branch bypasses all the critical steps required to enter the sale and recapture portions. Since I had a loss on the sale this prevented entering the sale as an "installment sale",

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question