You either: Deleted the entry for the rental property asset or You deleted the rental property activity. In either case, on the left side of the screen click on Tax Home. At the bottom of the page click on Your tax returns & documents. Select Download/print return (PDF). Access your previous year’s tax returns to view Schedule E Supplemental Income and Loss and form 4562 Depreciation and Amortization Report. These pages should give you the information to re-create your rental property asset or rental property activity. Follow these directions for the sale/disposal of a rental property. Click on the magnifying glass in the upper right hand corner of the screen. Enter 'sale of rental property'. <Enter> Click on Jump to sale of rental property. Down the left side of the screen, click on Federal. Across the top of the screen, click on Income & Expenses. Scroll down to Rental Properties and Royalties, click on Start / Edit / Review to the right. At the screen Your rentals and royalties summary, click Edit to the right of the property sold. At the screen Here's rental property info, scroll down to Assets, click on Edit / Start to the right. At the screen Your property assets, click on Edit for the rental property. At the screen Tell us more about this rental asset, click on The item was sold, retired, stolen destroyed, disposed of, converted to personal use, traded in, or give away. At the screen Did You Stop Using This Asset in 2021?, click Yes. At the screen Disposition Information, enter dates and click on Continue. At the screen Special Handling Required?, click No. At the screen Home Sale, click No. At the screen Sales Information, enter numbers for expenses of sale. Click on Continue At the screen Personal Residence, click No. At the screen Installment Sales, click No. At the screen Results, you may find that there will be two sale entries, one for the rental structure and one for the land the structure sits on.

Question

I sold one of my rentals in 2021 but I accidentally deleted it and cannot find how to report the sale

Forum|Forum|4 years ago
February 9, 2022
2 replies
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TurboTax Self Employed Online

J

JamesG1

You either:

Deleted the entry for the rental property asset or
You deleted the rental property activity.

In either case, on the left side of the screen click on Tax Home. At the bottom of the page click on Your tax returns & documents. Select Download/print return (PDF).

Access your previous year’s tax returns to view Schedule E Supplemental Income and Loss and form 4562 Depreciation and Amortization Report. These pages should give you the information to re-create your rental property asset or rental property activity.

Follow these directions for the sale/disposal of a rental property.

Click on the magnifying glass in the upper right hand corner of the screen. Enter 'sale of rental property'. <Enter>
Click on Jump to sale of rental property.
Down the left side of the screen, click on Federal.
Across the top of the screen, click on Income & Expenses.
Scroll down to Rental Properties and Royalties, click on Start / Edit / Review to the right.
At the screen Your rentals and royalties summary, click Edit to the right of the property sold.
At the screen Here's rental property info, scroll down to Assets, click on Edit / Start to the right.
At the screen Your property assets, click on Edit for the rental property.
At the screen Tell us more about this rental asset, click on The item was sold, retired, stolen destroyed, disposed of, converted to personal use, traded in, or give away.
At the screen Did You Stop Using This Asset in 2021?, click Yes.
At the screen Disposition Information, enter dates and click on Continue.
At the screen Special Handling Required?, click No.
At the screen Home Sale, click No.
At the screen Sales Information, enter numbers for expenses of sale. Click on Continue
At the screen Personal Residence, click No.
At the screen Installment Sales, click No.

At the screen Results, you may find that there will be two sale entries, one for the rental structure and one for the land the structure sits on.

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M

Mike9241

if you haven't entered a lot of 2021 info it might be easier to delete the return and start over

As long as you haven't submitted payment, deducted the TurboTax fee from your refund, or registered your product, you can erase your return and start from scratch in TurboTax Online. If you have done any of these things, you'll need to manually edit your return.

Here's how to clear and start over:

Sign in and select a topic to continue your return
Select Tax Tools from the side menu, then Clear & Start Over
Answer Yes to confirm