Can't report sale of a rental property

[wendyle1993]

I tried to use the "Rental Properties and Royalties" session to report the sale of my rental property in 2025, but it only asked me for the rental information, not the selling information, though I checked the box that I sold the property in 2025. Can you help?

[MindyB]

Yes.  You'll navigate to the property info to indicate you sold it, which you have already done and then also go to the assets and indicate here the assets (including the actual house) were sold. The interview will populate questions to determine the correct capital gain.

When you sell your rental property, follow the steps to report the sale found here: I sold my rental property. How do I report that?, with the selling expenses you asked about being reported in step 10:

"To report the sale of your rental property, follow the steps below:

1. Go to the rentals section
2. Answer Yes to the question Did you have any income from rentals or royalties? (You may not see this question since you have had the rental already entered)
3. On the Your rentals and royalties summary page, select Edit (pencil icon) beside the property you sold.
4. Select Edit (pencil icon) next to Rental property info.
5. Under General info, select Edit under Situations (or on the page Tell us about your situation this year), then select Sold or disposed of property. 
6. Continue through the screens until you return to the Here's your rental property info screen.
7. Select Edit next to Sold rental property or Sale of property/depreciation.
8. Go directly to your asset summary and select Edit beside the first rental asset you sold.
9. Continue to the page Tell Us More About This Rental Asset and check the box for The item was sold... Enter the date of the sale in the pop-up box.
10. Follow the prompts to enter the sale information, including the sales price and selling expenses you calculated above.
11. Continue back to the Rental Asset list.
12. Repeat steps 9-11 for each rental asset.
13. Continue back to the Property Summary page. Select Done/Continue and answer any follow-up questions."

[wendyle1993]

After I went through the Asset Summary session, it calculated the depreciation expense for me. Then it was done. It never asked me for the selling price and the selling expenses.

[ThomasM125]

You need to indicate that you sold the asset to see the sales entries. After the screen where you see the asset cost and date put into service (Tell us about this Asset), you will come to a screen that says Tell us more about this asset. On that screen there is an option that says the item was sold, retired, stolen, etc... Click that box and enter the date in 2025 that the asset was disposed of. A screen or two later you will see Sales Information and entry boxes for the sales proceeds and selling expenses.

[wendyle1993]

OK. I found that. Thanks!