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Level 1
posted Mar 1, 2024 1:40:46 PM

I owned a parking space in my condo building and sold it in 2023 at a small profit after paying legal fees. Where do I enter this in Turbotax?

The system keeps asking for depreciation or it won't accept.  I am not a realtor.

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1 Replies
Expert Alumni
Mar 1, 2024 3:27:47 PM

If you were using the rental section of TurboTax to report the rent, tell the program that you converted the rental to personal use. 

Next, enter the sale under 

  • Wages & Income
  • Investment Income
  • “Stocks, Cryptocurrency, Mutual Funds, Bonds, Other”
  • Select "Other" (land, second home, personal items) 

list it as land