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How do I handle rental property depreciation for the partial year during which the property is sold?

I sold my rental property on November 29, 2017.  I can see in Turbo Tax where I enter the information about the sale of the property but I cannot see how to tell Turbo Tax how to calculate only 11 months of depreciation for 2017.  Or...do I not record any depreciation for 2017 at all...and if so, how do I tell that to Turbo Tax?  I have 3 assets this affects, the original purchase plus two improvements.
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Accepted Solutions
MinhT
Expert Alumni

How do I handle rental property depreciation for the partial year during which the property is sold?

In the rental property section of TurboTax, on the Property Assets page, edit each asset. Follow the interview until you arrive at the page titled Tell us more about this Rental asset. Check that the asset was sold and indate the date of sale (see attached screenshot).

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1 Reply
MinhT
Expert Alumni

How do I handle rental property depreciation for the partial year during which the property is sold?

In the rental property section of TurboTax, on the Property Assets page, edit each asset. Follow the interview until you arrive at the page titled Tell us more about this Rental asset. Check that the asset was sold and indate the date of sale (see attached screenshot).

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

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