LeonardS
Expert Alumni

Get your taxes done using TurboTax

To report the sale of a rental property, in TurboTax follow these steps:

  1. Sign in to your TurboTax account
  2. In the search box enter rentals and then select the Jump to link in the search result.
  3. Answer Yes to the question Did you have any income from rentals or royalties? Answer yes even thought you did not have any rental income, this will allow you to continue to the next step.
  4. When you get to What are you here to report? select Rental property and fill out the description, address, and owner.
  5. When you hit Tell us about your situation this year check the Sold box along with any other boxes that may apply.
  6. Continue following the onscreen prompts to enter info about your rental property. Eventually, you'll get to the Review your rental property info screen. You can report the sale in the Expenses/Assets (Depreciation) section, along with any other pertinent info (like income and expenses)

This link I sold my rental property. How do I report that? has information you may find useful.

 

@tatou1

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