Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
T
Tax2019Pay
February 9, 2023
Question

Enter sale of rental property - software issues

  • February 9, 2023
  • 1 reply
  • 0 views

Software issue explained...

    1 reply

    DaveF1006
    DaveF1006
    February 9, 2023

    To clarify, did you report a K1 into your return?

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
    T
    Tax2019PayAuthor
    February 10, 2023

    Hi DaveF1006:

     

    I figured out the issue.  The TurboTax matched the gain from the sale of rental property in 2022 to the carry-forward passive losses accumulated from K-1's.

     

    Here is what the IRS said:"https://www.irs.gov/taxtopics/tc425."

    Here is another source: https://finance.zacks.com/sale-rental-property-considered-passive-income-8995.html

     

    This is exactly what the TurboTax did.   I learned something.

     

    Thanks.

    DaveF1006
    DaveF1006
    February 10, 2023

    It depends. To clarify, what kind of a K-1 is it? Is it from a partnership, S-corp, or trust? What line in the K-1 does the negative number appear?

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
    TurboTax Sign In Widget
    TurboTax flag icon

    Unlock tailored help options in your account

    Create an account
    TurboTax Expert Assist
    TurboTax Expert

    Get answers to all your tax questions

    Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

    Terms & ConditionsAccessibility statement
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    ©1997-2022 Intuit, Inc. All rights reserved.
    Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
    of Intuit Inc. Terms and conditions, features, support, pricing, and service options
    subject to change without notice.

    Security Certification of the TurboTax Online application has been performed by
    C-Level Security.

    By accessing and using this page you agree to the Terms of Use.

    Accessibility

    TRUSTe nResult Certified e-File C-Level Security Certification