I sold a rental property last year. When working with TurboTax Premier, I checked the box "I sold the property ..." (or something to this effect). Yet, it didn't ask me to enter purchase price, sell price, etc.
How do I enter those information? Thanks.
You need to indicate that the property was sold in the Property Profile section and the Asset/Depreciation section.
Thank for the reply.
I did check the box next to statement "I sold or disposed of this property in 2022." but TurboTax didn't ask me for any sale information.
@SoePaing wrote:I did check the box next to statement "I sold or disposed of this property in 2022.".....
I believe you only checked the box in the Property Profile section. You need to check the box in the section shown in the screenshot below as well.
On the rental summary page,
I clicked "update" button next to "Sale of Property/Depreciation".
When asked "Do you want to go directly to your asset summary?",
I clicked "No, I want to review my answers to the annual elections questions."
For the next two questions, I answered "no."
On "Your Property Assets" page, I checked the "done" button. I was brought back to the rental summary page.
You need to answer "Yes" and then "Edit". You're missing an important step.
I notice that what I'm having in the button is not "Start' but "Update". No sure if this would make any difference.