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.

posted

Connect with an expert

1 Reply

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?

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

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

Still have questions?