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Where do i report the sale of real estate property that is not my home

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Intuit Alumni

Where do i report the sale of real estate property that is not my home

The gain on personal use property is reported on Schedule D.

To enter an investment sale from a brokerage account (1099-B), follow the steps below.

•        Click on Federal Taxes (Personal using Home and Business)

•        Click on Wages and Income (Personal Income using Home and Business)

•        Click on I'll choose what I work on (if shown)

•        Under Investment Income

•        On Stocks, Mutual Funds, Bonds, Other, click the start or update button

The sale of rental property would be reported in the rental section.

  1. With your return open in TurboTax, search for rentals and then click the "Jump to" link in the search result.
  2. Answer Yes to the question Did you have any rental or royalty income and expenses?
  3. When you get to Is this a rental property or royalty? select Rental property and fill out the description, address, and owner.
  4. When you hit Do any of these situations apply? you'll definitely want to check the Sold box along with any other boxes that may apply.
  5. Continue following the onscreen prompts to enter info about your rental property. Eventually you'll get to the Rental Summary screen. Here, you can report the sale in the Sale of Property/Depreciation section, along with any other pertinent info (income, expenses, etc.)
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