You'll need to sign in or create an account to connect with an expert.
No, you don't have any gain or loss.
TurboTax is not set up to properly guide you for this (it would make you pay taxes on $55,000). This answer may help you report it:
https://ttlc.intuit.com/questions/2936029-sale-of-rental-property?jump_to=answer_4870589
No, you don't have any gain or loss.
TurboTax is not set up to properly guide you for this (it would make you pay taxes on $55,000). This answer may help you report it:
https://ttlc.intuit.com/questions/2936029-sale-of-rental-property?jump_to=answer_4870589
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
taxquestion22
New Member
lydiagp7090
Returning Member
Raju15
New Member
roger622
New Member
sorabhit
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.