turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Event: Ask the Experts about your refund > RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

f38017
New Member

I sold my rental property in 2016 in February but did not rent it for any of 2016. Also I have over $2000 in expenses to sell it and I've already included the depreciati

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
PaulaM
Expert Alumni

I sold my rental property in 2016 in February but did not rent it for any of 2016. Also I have over $2000 in expenses to sell it and I've already included the depreciati

Report the sale in the Sale of Business Property section. To navigate to the section:

  • In your open return, select My Account
  • Tools
  • Topic Search
  • Type 'sale of business property' in the box, then select GO

Enter basis, sales prices and other costs. You will need the prior accumulated depreciation taken for the rental property. TurboTax will not calculate this for you. Look to your 2015 depreciation report for the accumulated depreciation taken.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
PaulaM
Expert Alumni

I sold my rental property in 2016 in February but did not rent it for any of 2016. Also I have over $2000 in expenses to sell it and I've already included the depreciati

Report the sale in the Sale of Business Property section. To navigate to the section:

  • In your open return, select My Account
  • Tools
  • Topic Search
  • Type 'sale of business property' in the box, then select GO

Enter basis, sales prices and other costs. You will need the prior accumulated depreciation taken for the rental property. TurboTax will not calculate this for you. Look to your 2015 depreciation report for the accumulated depreciation taken.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies