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glazerr
Returning Member

Does TurboTax automatically calculate total depreciation on the sale of a rental property?

I sold a rental property in 2021 that I had owned and lived in since 2000 but turned into a rental property in 2017.  After that date, I claimed depreciation each year (except 1year ) and sold the property in 2021.  However, TurboTax is not displaying the total depreciation to associate with the sale - it is showing $0.  I am not quite sure if this is correct since a few of the years I claimed more depreciation than was necessary to zero out income.  So, my question is if TurboTax is accurately calculating the depreciation I need to associate with the sale (i.e., $0) or if I need to do this by hand?  Thanks!     

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1 Reply
ColeenD3
Expert Alumni

Does TurboTax automatically calculate total depreciation on the sale of a rental property?

Look on Form 4797 Line 22 in Part III to be certain the depreciation was not entered. If not you can manually enter it by seeing the amounts on Schedule E for those years.

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