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khunt127
Returning Member

I have a rental home that sat vacant from January 1st to November 15th 2018 when it was sold. How do I enter in Turbo Tax?

 
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Accepted Solutions
Leonard
Intuit Alumni

I have a rental home that sat vacant from January 1st to November 15th 2018 when it was sold. How do I enter in Turbo Tax?

If the house was unrented from January 1st to the date  when it was sold you will not be allowed to deduct any expenses related to the rental property on your 2019 tax return.

You will report the sale of your rental property in TurboTax by searching for sale of rental property then select Jump to sale of business property in the results box.  Follow the program prompts to enter the sales information for your rental property.

 

[Edited 03/11/2020 | 1:18 pm PDT]

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2 Replies
Leonard
Intuit Alumni

I have a rental home that sat vacant from January 1st to November 15th 2018 when it was sold. How do I enter in Turbo Tax?

If the house was unrented from January 1st to the date  when it was sold you will not be allowed to deduct any expenses related to the rental property on your 2019 tax return.

You will report the sale of your rental property in TurboTax by searching for sale of rental property then select Jump to sale of business property in the results box.  Follow the program prompts to enter the sales information for your rental property.

 

[Edited 03/11/2020 | 1:18 pm PDT]

jmckenna1
New Member

I have a rental home that sat vacant from January 1st to November 15th 2018 when it was sold. How do I enter in Turbo Tax?

If they were trying to rent it, why can't they deduct expenses?

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