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March 5, 2023
Question

I sold a property in 2022 amd would like to know how to report on my taxes

  • March 5, 2023
  • 1 reply
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    1 reply

    March 7, 2023

    You should complete the Rental Property schedule indicating this to be the final year of business with the date of sale. If you had set up or taken any CCA (depreciation) in a prior year you will also need to clear those balances. Unless you are eligible to declare this property as your qualifying Principal Residence there will be Capital Gains/Losses to calculate. 

     

    The details of your rental property sale are entered in TurboTax under the "Investments Profile". You can get there in the EasyStep view by:

    • Go to Income > Investments > Investment Profile > check the top box "Capital Gains or Losses"
    • Continue to the Capital Gains Profile page, check the top box "Sold stocks, crypto, bonds, real estate or other capital property", continue
    • Select "Real Estate/Depreciable/Other" and continue to the page where you will be asked for these entries.


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