topic I sold my rental property in 2019, but there is no way to enter the sales information into TurboTax! It says: "Be sure to enter your sales information" but I can't. in Investors & landlords

I sold my rental property in 2019, but there is no way to enter the sales information into TurboTax! It says: "Be sure to enter your sales information" but I can't.

crozierp — Wed, 29 Jan 2020 13:05:00 GMT

Re: I sold my rental property in 2019, but there is no way to enter the sales information into Tu...

HelenC12 — Wed, 29 Jan 2020 13:22:49 GMT

Please see the following TurboTax FAQ to enter the sale of your rental property: I sold my rental property. How do I report that?

Re: I sold my rental property in 2019, but there is no way to enter the sales information into Tu...

ctoakes — Sat, 07 Mar 2020 21:05:58 GMT

I have tried updating program, but I do not have any option for entering sale information of my rental real estate property in the Sale of Property/Depreciation section.

Please advise, thanks!

Re: I sold my rental property in 2019, but there is no way to enter the sales information into Tu...

LeonardS — Sun, 08 Mar 2020 17:36:47 GMT

This TurboTax help page I sold my rental property. How do I report that? has directions that will assist you in reporting the sale of your rental property.

Re: I sold my rental property in 2019, but there is no way to enter the sales information into Tu...

ctoakes — Mon, 09 Mar 2020 21:08:27 GMT

Thank you for your response, but I've already read that thread. That I was replying on that same thread.

As I said, I do not have the option to enter sale information. I have gone through the rental asset multiple times, and looked at each window, but cannot find any where to enter that info.

The page called "Your Property Assets" which shows a summary of the assets and depreciation for my rental property includes the Note: "Earlier you told us that you sold (disposed of) your home ... Be sure to enter your sales information in this section ..."

However, there is no opportunity in that section to enter sales information. It is only a summary of the assets and their depreciation. There is a button called "Add an Asset" only.

I suspect there is something not updated properly in the program, however, I have prompted it to update, closed and reopened the file, and restarted the program several times.

Thank you for your attention to this,

Chris

Re: I sold my rental property in 2019, but there is no way to enter the sales information into Tu...

MayaD — Tue, 10 Mar 2020 15:58:33 GMT

To enter the sales information :

Select Edit next to the Asset in the summary screen.
Continue to the screen "Tell us more about your asset" and select It was sold.
On the following screen " Special handling required" select NO.
On the next screen select No ( it is not the sale of main home).
Enter the sale information on the following screen.

Re: I sold my rental property in 2019, but there is no way to enter the sales information into Tu...

PM15 — Wed, 11 Mar 2020 22:33:00 GMT

I was having the same issue. Went through the various sections over and over - so frustrating! After about an hour and a half with a "tax specialist" who had me going over and over the same sections, he finally found it.

When you're in the Business tab under Business Income and Expenses, go all the way down to "Less Common Business Situations". The last section is "Sale of Business Property". When you click on "Update", the first box is "Sales of business or rental property that you haven't already reported."

It is the only place I have found to enter info including the Sales Price and Cost of Property Plus Expenses of Sale. I hope this is the right place as that's where I'm entering it! Good luck to you!

Re: I sold my rental property in 2019, but there is no way to enter the sales information into Tu...

MayaD — Wed, 11 Mar 2020 22:55:11 GMT

To report the sale of rental property:

Log in to your account.
Go to Federal Taxes.
Go to Wages and Income.
Go to Rental Properties and Royalties (Sch E).
Select Yes to review your Rental Property.
Select Edit on the screen Rental and Royalty Summary
Select Assets/ Depreciation or Sale of rental property and select to go to the summary
Continue and on the screen Tell us about this rental Asset, Select that it was sold.
On the screen Special handling required select No.
Continue to the Sale Information screen.

Re: I sold my rental property in 2019, but there is no way to enter the sales information into Tu...

PM15 — Tue, 17 Mar 2020 17:19:50 GMT

This is the section to report the sale but NOT the section to report the information as far as price for capital gains. Thanks for trying to help, though!

Re: I sold my rental property in 2019, but there is no way to enter the sales information into Tu...

gailgail — Mon, 28 Mar 2022 18:32:08 GMT

I can't find it either

Re: I sold my rental property in 2019, but there is no way to enter the sales information into Tu...

LeonardS — Mon, 28 Mar 2022 18:43:12 GMT

To enter the sale of your rental property. Follow these steps to enter the sale.

With your return open in TurboTax, search for rentals and then select the Jump to link in the search result.
Answer Yes to the question Did you have any income from rentals or royalties?
When you get to What are you here to report? select Rental property and fill out the description, address, and owner.
When you hit Tell us about your situation this year check the Sold box along with any other boxes that may apply.
Continue following the onscreen prompts to enter info about your rental property.
When you get to the Review your rental property info screen. You can report the sale in the Expenses/Assets (Depreciation) section, along with any other pertinent info (like income and expenses)
You do not enter the capital gains directly, TurboTax will automatically calculate your capital gain or loss on the sale using the information you have provided.

Re: I sold my rental property in 2019, but there is no way to enter the sales information into Tu...

gailgail — Mon, 28 Mar 2022 19:09:29 GMT

I can't find that information. It's left out

Re: I sold my rental property in 2019, but there is no way to enter the sales information into Tu...

JulieS — Mon, 28 Mar 2022 19:22:59 GMT

Can you clarify your question?

Do you mean when look for Assets, there are none listed?