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TacyCat1
New Member

Sold a rental not rented in previous year--turbotax won't let me go through the rental section

I rented out a house from May 2018 through September 2023. Then I fixed it up, put it on the market, and it sold February 2024. Because of this, even though I checked the box for having sold it, TurboTax says I can't include it as a rental. Not sure what to do about that. How do I enter sale information in this situation?

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1 Reply
PatriciaV
Expert Alumni

Sold a rental not rented in previous year--turbotax won't let me go through the rental section

Because your rental property was not active last year, you would enter this under the Sale of Business Property. You'll need to know your original basis in the property (and the land portion) plus the total depreciation you claimed while it was used as a rental.

 

To report this sale in TurboTax, open your return and follow these steps:

  1. Go to Wages & Income >> Less Common Business Situations. 
  2. Select the Start/Update button next to Sale of Business Property.
  3. Follow the prompts to enter the sale of your former rental.
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