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April 15, 2022
Question

How do I add income from selling a rental property?

  • April 15, 2022
  • 1 reply
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Form 1099s

1 reply

April 15, 2022

Please see TurboTax Expert ThomasM125's solution to a similar question below:

 

You need to enter the sales proceeds listed on your form 1099-S in the rental section of TurboTax.

 

You need to return to the rental section in TurboTax and Update the rental property, then Edit the property that you sold. When you come to the Review screen, Update the Assets/Depreciation section and choose to go to the asset summary. Once on the Your Property Assets screen, Edit the rental house asset and work through that section until you come to the Tell Us More About This Rental Asset screen. On that screen you should check The item was sold, retired, etc... box. Later in that section you will be asked to enter the sales price of the house and land. 

 

You should do the same for any other assets you have listed if they are not fully depreciated, and you will enter the sale amount for those as $0. 


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