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candycanepanda
November 27, 2022
Question

I have an investment property. I have a Schedule E worksheet for the depreciation on the structure. Turbo tax is saying "Disposition Property Type must be entered" What disposition property type is a single family home?

  • November 27, 2022
  • 1 reply
  • 0 views

The options I am considering are 

-Trade or business property (sec 1245)

-Real property (Sec 1250 

 

    1 reply

    Critter-3
    Critter-3
    November 27, 2022

    1250 ... a structure is REAL property which is why you pay Real Estate taxes on it.

     

    That said ... if you have the asset listed properly (in the Sch E section as you are required to do so) then the program will automatically handle this for you when you indicate the asset was sold.  

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