Question

How do I calculate depreciation on rental property that I sold?

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Employee

There are 2 chances.

1.When you go into the rental, it asks a few questions.

One is "DO Any of These Special Situations Apply to This Property?", mark it sold and add the date.

2.If you have passed that point and things are entered:

*Go to your rental and click Edit

*Scroll down to Assets/Depreciation

*Click Edit/Review

*Continue answering until you get to Tell Us More About This Rental Asset.. traded, purchased or sold

*Select sold

*continue answering questions

The program will calculate the correct depreciation for you.

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