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Level 2
posted Apr 15, 2018 6:11:47 PM

Rental Property

Sold a rental, have 50% ownership and want to take 50% of the capital gains.

I received nothing from the bank, should I have received a form and how do I mark it 50% in TurboTax?

0 1 594
1 Replies
Level 3
Apr 16, 2018 11:36:24 AM

Hello,

 

It sounds like you are looking to report capital gains from selling a rental property at 50% ownership.

 

To enter the information for your portion of the sale of rental property in TurboTax:
1. When you are entering the rental information for this property
2. On the Do any of these Situations Apply to This Property? page select "I sold or disposed of this property in 2017"

 

Or, to find this section of TurboTax you can use the Search box at the top right side of the TurboTax header. Click on the magnifying glass, type in "sale of business property", hit Enter, and click on "jump to sale of business property" to go directly to beginning of this topic.