topic How do I report sale of a rental property that was a net loss? in Investors & landlords

How do I report sale of a rental property that was a net loss?

wtchi — Wed, 05 Jun 2019 21:55:14 GMT

When I enter the sales price, cost basis, and depreciation in "Sale of Business Property under "Other Business Situations", the website tells me it wasn't a gain, so I shouldn't report it there, and it is removing the record. So...where should I report it???

You can still enter at "Sale of Business Property ". But...

Hal_Al — Wed, 05 Jun 2019 21:55:15 GMT

You can still enter at "Sale of Business Property ". But, you have to follow the interview carefully.

At the first screen you will click that you had the sale of business or rental property.

The next screen will ask if you sold at a profit (among other things). You click No.

That will get you to a screen that asks if you sold at a loss. When you click yes, it will let you proceed.

https://ttlc.intuit.com/replies/3388350

Critter — Wed, 05 Jun 2019 21:55:18 GMT

https://ttlc.intuit.com/replies/3388350

See this TurboTax support FAQ for how to report the sale...

DoninGA — Wed, 05 Jun 2019 21:55:19 GMT

See this TurboTax support FAQ for how to report the sale of a rental property - https://ttlc.intuit.com/questions/1933977-i-sold-my-rental-property-how-do-i-report-that