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I sold the my rental property last year. How do I handle the sale in Turbo Tax? When I click on "Sale of Property/Depreciation", there is no option to enter the sale.

The sale was a land contract and I would like to defer.

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6 Replies
AmandaR1
New Member

I sold the my rental property last year. How do I handle the sale in Turbo Tax? When I click on "Sale of Property/Depreciation", there is no option to enter the sale.

There are two places to enter the sales, under the basic info for the Property Profile and under Assets/Depreciation from within the applicable rental (in that order). Be sure to continue through the entire section. 

My answer below details these steps, which should resolve your issue and you'll be asked about the sale information: https://ttlc.intuit.com/replies/6686089

rca55
New Member

I sold the my rental property last year. How do I handle the sale in Turbo Tax? When I click on "Sale of Property/Depreciation", there is no option to enter the sale.

This does not work for my situation. TT eliminated the rental and 8582 after I converted to personal use in 2013. When I report no income or expenses for 2017 TT deletes the attempt to re-create the rental.

I sold the my rental property last year. How do I handle the sale in Turbo Tax? When I click on "Sale of Property/Depreciation", there is no option to enter the sale.

When I did the above, one place in one of the help blurbs told me to prorate the gains between the business property and not sections.  So, I put 5/9 in the business section. In the home section, I tried to put in the other 4/9. It deleted the entry when I said it had been rented some of the time.  Should I put all of it in Business? If not, where?
srtosi
New Member

I sold the my rental property last year. How do I handle the sale in Turbo Tax? When I click on "Sale of Property/Depreciation", there is no option to enter the sale.

This did not work for my situation because when I select the box indicating that I did not rent the propert in 2017, it deletes it from my rental section. Is there a workaround for this issue?

I sold the my rental property last year. How do I handle the sale in Turbo Tax? When I click on "Sale of Property/Depreciation", there is no option to enter the sale.

exactly my problem - someone please help!

I sold the my rental property last year. How do I handle the sale in Turbo Tax? When I click on "Sale of Property/Depreciation", there is no option to enter the sale.

This answer to my question is from 2017. This "check the box to indicate that you sold or disposed of this asset this year." does not appear on my computer. Maybe it's changed from last year?  
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