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Sold 3 rental property with owner financing. Entered the information into TurboTax; however, when reviewing it changed the info to another rental that I had sold giving the wrong cap gain, etc.

 
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3 Replies

Sold 3 rental property with owner financing. Entered the information into TurboTax; however, when reviewing it changed the info to another rental that I had sold giving the wrong cap gain, etc.

How did you enter the transactions?

 

Were they entered separately or was this one sale of three properties to one party?

Sold 3 rental property with owner financing. Entered the information into TurboTax; however, when reviewing it changed the info to another rental that I had sold giving the wrong cap gain, etc.

Yes, that's why I was so surprised to see it shift in the middle of checking one of them to make sure my entries were correct.  Maybe when that portion of the program gets updated, it will correct itself??  Originally said it would be updated by 1/13; however, now it is showing 1/19.  A little late to submit my 4th Quarter estimated taxes for 2022. 

Sold 3 rental property with owner financing. Entered the information into TurboTax; however, when reviewing it changed the info to another rental that I had sold giving the wrong cap gain, etc.


@petlover wrote:

A little late to submit my 4th Quarter estimated taxes for 2022. 


You have until this Tuesday, January 17th and you should be able to come up with at least a rough estimate.

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