topic I just sold a rental property in another state. Does Turbo Tax have all the info for me to fill out the tax reporting documents required to close on the house? in Investors & landlords

I just sold a rental property in another state. Does Turbo Tax have all the info for me to fill out the tax reporting documents required to close on the house?

hundrup777 — Thu, 29 Aug 2019 20:08:01 GMT

Re: I just sold a rental property in another state. Does Turbo Tax have all the info for me to fill out the tax reporting documents required to close on the house?

Critter — Thu, 29 Aug 2019 20:20:18 GMT

Not sure what you would need from a tax return for the closing company ... however if they need to know what the profit is then you will need to calculate that figure and the online program cannot do that for you.

Re: I just sold a rental property in another state. Does Turbo Tax have all the info for me to fill out the tax reporting documents required to close on the house?

Kat — Thu, 29 Aug 2019 23:54:49 GMT

Are you asking if the TurboTax programs contain the forms to report the sale of your rental property? If that is your question, TurboTax Premier or higher will include any IRS forms you need to report this sale.

Hopefully you've been reporting the income and depreciation each year as required for any rental property. Those figures from last year's tax return will be essential to properly prepare your 2019 return in early 2020.