turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Hux
New Member

Rental property sold early in 2017 didn't have rental income. TurboTax wants to delete it as investment property. Been a rental for ten plus years. How do I force it?

I have prior year losses. Should I just pretend its was rented fro the couple of months I owned it with $0 rent? I still had costs!
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
LisaBr
New Member

Rental property sold early in 2017 didn't have rental income. TurboTax wants to delete it as investment property. Been a rental for ten plus years. How do I force it?

Since the property was a rental property, you should claim as a rental property until date of sale.

If you received no income, do not enter income.  You can completely omit the income section.

When you are answering the questions regarding the property, be sure that you are answering that you had property for rental purposes.  Also, that it was disposed of in 2017.  You will also be able to use your losses from previous year's that you are carrying forward.

Vacant while listed for sale.   If you sell property you held for rental purposes, you can deduct the ordinary and necessary expenses for managing, conserving, or maintaining the property until it is sold. If the property is not held out and available for rent while listed for sale, the expenses are not deductible rental expenses.

 [From IRS Publication 527, https://www.irs.gov/publications/p527#en_US_2017_publink1000218951]

View solution in original post

1 Reply
LisaBr
New Member

Rental property sold early in 2017 didn't have rental income. TurboTax wants to delete it as investment property. Been a rental for ten plus years. How do I force it?

Since the property was a rental property, you should claim as a rental property until date of sale.

If you received no income, do not enter income.  You can completely omit the income section.

When you are answering the questions regarding the property, be sure that you are answering that you had property for rental purposes.  Also, that it was disposed of in 2017.  You will also be able to use your losses from previous year's that you are carrying forward.

Vacant while listed for sale.   If you sell property you held for rental purposes, you can deduct the ordinary and necessary expenses for managing, conserving, or maintaining the property until it is sold. If the property is not held out and available for rent while listed for sale, the expenses are not deductible rental expenses.

 [From IRS Publication 527, https://www.irs.gov/publications/p527#en_US_2017_publink1000218951]

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies