Has been a rental property for over 7 years.
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Yes but is it really going to be a loss when you recapture the depreciation ? Since you have the downloaded version open a TEST return to see what happens when you sell a property ... use the sale date of 12/31/16 for this what if scenario...
In the TurboTax CD/Download software by creating a test copy:
1. Open your return in TurboTax.
2. From the File menu, choose Save As.
3. Give the copy a new name to distinguish it from the original (for example, by adding "Test" or "Example" to the file name).
4. Click Save. You are now safely working in the test copy and anything you do here will not affect the original.
https://ttlc.intuit.com/questions/1900642-how-to-make-a-test-copy-of-your-return
Or use the WHAT IF tool:
- Click Forms Icon (upper right of screen) or Ctrl 2 (forms view)
- Click on the Open Form Icon
- In the “Type a form name..” area type What-If (with the dash), click on the name of the worksheet - click on Open Form
- You will see the worksheet on the right side of the screen; enter the information right into the form
- To get back to interview mode - click on the Step-by-Step Icon (upper right of screen) or Ctrl 1
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