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Returning Member
posted Feb 10, 2019 12:29:18 PM

Help where to put in numbers for sale of rental

Family home was purchased in 2006 at a price of $355,000. Additional improvements were made in the next 3 years at a cost of $38,000

 

We moved in 2010 and due to the poor housing market, the FMV of the home dropped to $366,000 when we converted to a rental property.   Depreciation was taken on the property since 2010, although some it rolled over due to income restrictions

 

The home was sold in August 2018 for $350,000.

 

Improvements, costs of the first loan (approx $6,000) and the expenses ($21,000) we paid for the sale are not taken into consideration under rental properties schedule E. Where or how do I list the sale of the house in Turbo Tax?

0 2 836
2 Replies
New Member
Mar 30, 2019 12:59:27 AM

Hi Markmc.  I have the exact same question and can not find the answer to it.  Did you ever figure it out?  Thanks.

Level 15
Mar 30, 2019 3:56:24 AM

Are you using the step z step view in TT?

Are you using online or CD version