Sold a Rental Property

[jacob2026]

I sold my rental property in 2025, but for the past two years there was no income to report, so turbotax did not have me record anything. And, I have only been using turbotax for the past two years. 

My question is within the software itself, I am having trouble navigating where to put in that I sold the property, then from there, how to record loss of rents for the past two years...plus loss of rents in 2018 and 2019. 

Thanks. 

[AmyC]

Let's break this down:

• Loss of rent in  2018 and 2019 - you don't report the loss of rent. You report only the income and expenses. Maybe you meant loss, where expenses exceed income for the property. It may have been a deduction on your tax return or it may have become a suspended loss reported on Form 8582.
• No income for 2024-23 - not reported on tax return.  The rental should have been reported with $0 income. This means that if you do have suspended losses on Form 8582, they were not reported for those years. Nor did you take any additional losses to which you may have been entitled. You have several years of no income so you may have had family members in it for personal use or you may have been remodeling. Some expenses could be deductible, depending on the situation.
• Sale of rental property, here are the tricks:
  1. Open to Wages & Income > Rentals, Royalties, and Farm.
  2. Select Edit/Add next to your Rental Property.
  3. Navigate through the property profile until you see a screen titled "Tell us about this property."
  4. Check the box that says "I sold or otherwise disposed of this property in 2025."
  5. As you go through -You will need to mark $1 of income and enter 1 day rented - temporarily
  6. Continue through expenses
  7. Navigate to Assets - enter the house and again mark that it was sold.
  8. Continue through the sales process 
  9. be sure to include any carryover loss from Form 8582
  10. continue to finish Sch E
  11. once the property passes the review, you can change the income and day to zero or leave it alone. It won't affect your bottom line.

[jacob2026]

Plus, when I filed with Turbotax, they never had me file a Form 8582, for years 2023, and 2024. 

[AmyC]

You may not have suspended losses. You will need to look back at prior tax returns and see if you have any suspended losses.