We purchased a residential rental in 1997 and sold in 2020. I cannot figure out how to enter the sale. I have worked and worked the depreciation section and no where does it ask for how much we sold the property. Can someone PLEASE help me?
Purchased $105,000 1997
Sold $225,000 2020
I have worked and worked the depreciation section
When you go through the "assets" for depreciation, are you checking the box that it was sold?
If so, when you get the "Special Handling" screen, are you saying "yes" or "no"?
If you are saying "yes", what is the reason you are selecting "yes"?