Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Mar 16, 2020 9:46:12 AM

I sold my rental property in 2019. So how do i fill out "Your property assets" form? some items are fully depreciated and others are not. What do i do with this form?

0 1 321
1 Replies
Expert Alumni
Mar 16, 2020 10:10:31 AM

Follow these directions.

  • At the screen Your property assets, click on Edit for the rental property.
  • At the screen Describe this asset, click on Rental real estate property.
  • At the screen Tell us a little more about your rental asset, click on Residential rental real estate.
  • At the screen Tell us about this rental asset, enter the cost, cost of land and date purchased.  (Land is a portion of the cost of the property.)
  • At the screen Tell us more about this rental asset, click on I purchased this asset newHave you used this item 100%, click Yes.
  • Click on The item was sold, retired, stolen, destroyed, disposed of, converted to personal use, traded in, or given away.
  • Enter the date sold or retired from use.
  • At the screen Confirm your prior depreciation, verify the prior depreciation computed.
  • Continue through the screens
  • At the screen Sales Information, enter the sales price.
  • Proceed through several screens until you end back at Your property assets.  You may have several assets to retire or report as sold.  Cycle through each asset.