You'll need to sign in or create an account to connect with an expert.
Whether you have a gain or loss when you sell your rental property is determined by the Original Cost, minus the amount of Depreciation you have taken on the property (Cost Basis) and the Sales Price.
Don't forget to include any Sales Expenses you paid, and add any Capital Improvements you made to the Cost Basis of the property
Here's how to enter the Sale of Rental Property:
https://ttlc.intuit.com/replies/6686119
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
zeishinkoku2020
Level 2
Nkm171964
Returning Member
Verojay
Returning Member
3686707
Level 2
javatax14
New Member
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.