I sold my rental property. How do I report that?
by TurboTax•378• Updated 2 months ago
Follow these steps to report the sale of your rental property on your tax return:
- Open or continue your return.
- Navigate to the rentals section:
- TurboTax Online/Mobile: Go to rentals.
- TurboTax Desktop: Select Search Topics. Search for and select rentals.
- Answer Yes to the question Did you have any income from rentals or royalties?
- Follow the on-screen instructions. We'll ask you to report the sale when you get to the Expenses/Assets (Depreciation) section, along with any other pertinent info (like income and expenses).
Tip: Take your time and pay close attention. There's a lot of info and it's easy to miss if you're in a hurry.
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