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are you prompted for asset sales expenses? there where closing costs deductible against the sale would go. Not all closing costs go there. for example, real estate tax proration would go on schedule E
We'll ask you to report the sale when you get to the Expenses/Assets (Depreciation) section, along with any other pertinent info such as selling expenses. Use this link for full instructions on How to Report the Sale of a Rental Property. You can also search for sale of rental property to get to the right place in TurboTax; see image below.
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