Selling 3 rentals purchased on different dates

[bsktlady57]

I purchased 3 parcels of rental property on 3 different dates, 3 different years, sold all three parcels in one sale.  How do I report the dates of sale, cost of property, and depreciation for tax reporting? 

[tagteam]

Are you using TurboTax? If so, have you been entering rental income and expenses (including depreciation)?

Indicate you sold the properties in the Rentals section of the program.

[bsktlady57]

I purchased the first parcel with rental house in 2006, second adjoining land only parcel in 2008, and third adjoining land parcel only in 2012. I sold all parcels in one salel in 2023.  I entered the rental income and expenses including depreciation under the first parcel, as the remaining 2 parcels were vacant land.  Maybe I should have entered the 2nd and 3rd parcel separately but I can't change that now.  Any suggestions would be greatly appreciated. 

[tagteam]

If you can separate the basis for the vacant parcels, you can enter the sale separately by allocating a portion of the sales price to the transactions.

Sale of land would be reported the same as a sale of stocks, bonds, mutual funds, etc.