How do I report sale of rental real estate

Enter all the 2024 income and expenses for that rental first

Go to the "Property Profile" section, and select "I sold this rental in 2024" on the "Do Any Of These Situations Apply To This Property?" screen.

Continue through that interview but do not leave the Rental Section

Scroll down to Sale of Property/ Depreciation

Yes, I want to go to my asset summary 

Select EDIT for the property

Continue through this interview and be sure to select on the "Tell Us More About This Rental Asset" screen ALL- 

• I purchased this asset (if appropriate)
• The item was sold
• Yes or No to 100% use

Continue through the interview and report the sale

Sale proceeds over cost will be capital gain (capital gain tax rate)

DEPRECIATION RECAPTURE will be Ordinary Income (your tax rate)

IRS Pub 527