I sold a rental but did not rent it out in 2023. When enter this info, it tells me to remove the property and doesn't allow me to enter the sale info. What do I do?

First, I select "Sold or disposed of property", continue
Next, I select "no" and enter "0" for "Fair rented days" and check "I did not rent, nor attempt to rent, this property at all in 2023", continue
Final screen says, "You don't need to report xxxxx this year" and the option is "Remove this property"

This seems to be a glitch or do I claim the sale somewhere else?

529

Expert Alumni

Feb 26, 2024 2:46:09 PM

No, if you didn't rent the property in 2023, you were correct to indicate that in the Rental section.

Then report the sale under 'Sale of Business Property', you can type 'sale of business property' in the Search area, then 'jump to sale of business property' or find it in the Business Items topic list under Wages & Income.

You will need to know the Accumulated Depreciation that you have taken on the property, as well as the Sales Costs to include in the sale entry.

Here's more info on Sale of Rental Property.

@oliviagreenwood2

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I sold a rental but did not rent it out in 2023. When enter this info, it tells me to remove the property and doesn't allow me to enter the sale info. What do I do?