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posted Jan 12, 2021 9:24:06 AM

Sale of Residential Rental Property

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

 

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3 Replies
Level 10
Jan 12, 2021 10:55:17 AM

My understanding is there's rental section but I'd call their customer service number if you're really confused.

Level 14
Jan 12, 2021 6:31:19 PM

@r5susan wrote:

 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"?

Level 15
Jan 12, 2021 6:52:05 PM

https://ttlc.intuit.com/community/rental/help/i-sold-my-rental-property-how-do-i-report-that/00/26251