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Question

I sold a rental property. Where are the closing costs entered?

Forum|Forum|1 year ago
January 14, 2025
2 replies
0 views

I need to enter all my closing costs. Broker, Underwriting, transfer etc. I enter the gross sale price but am not prompted for the sale costs.

are you prompted for asset sales expenses? there where closing costs deductible against the sale would go. Not all closing costs go there. for example, real estate tax proration would go on schedule E

Employee

We'll ask you to report the sale when you get to the Expenses/Assets (Depreciation) section, along with any other pertinent info such as selling expenses. Use this link for full instructions on How to Report the Sale of a Rental Property. You can also search for sale of rental property to get to the right place in TurboTax; see image below.

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