I received a 1099C for a Rental Property we had to Short Sell in 2017... where do I enter this information and can I count it as a loss?

Your 1099-C are entered under Miscellaneous Income.  To report miscellaneous taxable income in TurboTax, sign in and click ''Take Me To My Return'' if not already in your return.  Go to:

• Federal (on the left) >>
• Wages & Income (at the top)   (you may need to scroll down & click on 'skip to see ALL income') >>
• Less Common Income (last income group) >>
• Miscellaneous Income (last line item) choose Edit/Add >>
• Cancellation of debt (Form 1099-C) choose Start and enter the information from the 1099-C

You can also type ''miscellaneous income'' in the search bar and use the 'Jump to' link, see attached.

-----------------------------------------------------------------------------------------------------------

If you rented the property in 2016, losses on your rental property are entered on either Schedule C or Schedule E, depending on the nature of your rental business.  For more information on deducting losses on rental property, see the article below for full details.  If this property is already listed on your return, you will dispose of the 'asset' by editing your assets on your Schedule C or Schedule E.   

https://turbotax.intuit.com/tax-tips/rental-property/selling-rental-real-estate-at-a-loss/L2RKgClm4

------------------------------------------------------------------------------------------------------------------------

If you did not rent the property in 2017 at all, then you will need to report this sale in the Sale of Business Property, under the Other Business Situations section.  Click on 

• Federal (on the left) >>
• Wages & Income (at the top)   (you may need to scroll down & click on 'skip to see ALL income') >>
• Other Business Situations (Show More) >>
• Miscellaneous Income (last line item) choose Edit/Add >>
• Sale of Business Property
  

You will have a screen that states "Any Other Property Sales?", then you will select Sales of business or rental property that you haven't already reported.  Next Screen "Sales of business or Rental Property"