I sold rental home. A search on this topic tells me that it is under rental income expense/depreciation. It is not there.

Forum|Forum|1 year ago
February 23, 2025
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KrisD15

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)

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Dmac_232425

It doesn't go thru anything to do with rental property sale. The software is not functioning.

Mike9241

in screens after the one shoown (it takes you nowhere) you should come to one that says at the top "Review Your

XYZ Rental Summary"

on that screen, there's a line that says "Sale of Property/Depreciation" Click on the link.

as a side note, a sales price must be entered for each asset so that 1) the gain/loss and depreciation recapture is correct and 2) so the property is gone when you do 2025.