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