Where/how to enter the sale of a rental unit we sold 2024? Once we answered Yes to Sold the property.

[jmackjm60]

When trying to enter any information about the sale ion Turbo Tax Premier Edition it says there is a place in the Sale/Depreciation section.

However-the only items that can be added there are the ones purchased.

Thanks!

[PatriciaV]

If this is not the first year you reported this rental property, all assets should be listed under Sale/Depreciation. Edit each asset and report the sale information. You can either allocate the sale proceeds to each asset or report the entire amount to the main rental asset and zero proceeds to the rest.

If you have not reported this Rental Property in TurboTax before, you will need to add all rental assets under Sale/Depreciation first, then indicate that you sold them.

Additional Info:

• I sold my rental property. How do I report that?
• How do I handle capital improvements and depreciation for my rental?