Im selling a rental property that's been tracked in TT. will TT capture the depreciation applied? doesn't look like TT's "Sales of Business or Rental Property" ties them?

[AmeliesUncle]

You need to go through each "asset" and indicate it was sold.  In most cases, the sale is reported in that section and the program will do everything, including the tax on the depreciation.  If you enter the sales information in that section, you do NOT report the sale again in the "Sale of Business Property" section.

In some cases, when you are going through the asset and you get to the "Special Handling" screen, you need to say "yes" on that screen.  In those cases, the asset section won't ask you for the sales price and you need to enter it elsewhere in the program, usually the "Sale of Business Property" section.  In those cases, you need to MANUALLY enter all of the proper number in the "Sale of Business Property" section, including depreciation.   If you enter the proper information, it will properly tax the depreciation.

As a side note, there are some situations that the program is NOT set up to handle and the "Sales of Business Property" section is are very helpful.  A common one is when if you used the asset for personal use before you converted it to personal use, the value at that time was less than the cost, then when you finally sold the business asset it was sold at a gain.  The program is not set up for that.

[Carl]

If (and only if) you follow the guidance below, the program takes care of all depreciation recapture and everything else "for you".

Reporting the Sale of Rental Property

If you qualify for the "lived in 2 of last 5 years" capital gains exclusion, then when prompted you WILL indicate that this sale DOES INCLUDE the sale of your main home. For AD MIL personnel who don't qualify because of PCS orders, select this option anyway, because you "MIGHT" qualify for at last a partial exclusion.

Start working through Rental & Royalty Income (SCH E) "AS IF" you did not sell the property. One of the screens near the start will have a selection on it for "I sold or otherwise disposed of this property in  2019". Select it. After you select the "I sold or otherwise disposed of this property in 2019" you continue working it through "as if" you still own it. When you come to the summary screen you will enter all of your rental income and expenses, even it it's zero. Then you MUST work through the "Sale of Assets/Depreciation" section. You must work through each individual asset one at a time to report its disposition (in your case, all your rental assets were sold).

Understand that if more than the property itself is listed in your assets list, then you need to allocate your sales price across all of your assets.  You will only allocate the structure sales price; you will NOT allocate the land sales price, since the land is not a depreciable asset.  Then if you sold this rental at a gain, you must show a gain on all assets, even if that gain is $1. Likewise, if you sold at a loss then you must show a loss on all assets, even if that loss is $1

Basically, when working through an asset you select the option for "I stopped using this asset in 2019" and go from there. Note that you MUST do this for EACH AND EVERY asset listed.

When you finish working through everything listed in the assets section, if you ever at any time you owned this rental you claimed vehicle expenses, then you must also work through the vehicle section and show the disposition of the vehicle. Most likely, your vehicle disposition will be "removed for personal use", as I seriously doubt you sold your vehicle as a part of this rental sale.

[Critter-3]

If you run into trouble then this may be the year you need to upgrade to one of the LIVE options to get it done correctly as the DIY program is wonderful ONLY IF  you understand what you are doing ... otherwise it can be your worst nightmare.  

https://turbotax.intuit.com/personal-taxes/online/live/customize-your-product/