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Sale of Rental Property

Forum|Forum|6 years ago
February 29, 2020
2 replies
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Hello:

I am using Turbo Tax Premier and I need to enter the sale of a rental property. I have looked at all of the questions and advice and I still cannot see where to enter the date of the sale of this property. When I enter the Rental and Royalty Summary section and go through to the Sale of Property/Depreciation, I get to the Your Property Assets section. There is no place to enter a property sale date or end of service date for any of the assets - the house and appliances. I'm at a loss at this point and would appreciate any help.

Thank you!

Best answer by Anonymous_

@semrgn wrote:

What am I missing?

Click the Edit button, proceed through the screens and check the box that reads, "The item was sold, retired, stolen, destroyed, disposed of.......".

You should then see a box directly below that which will prompt you to enter the date you sold the property.

A

Anonymous_

Employee

Look for the Property Profile section and make sure to indicate you disposed of the property in that section as well as the Assets/Depreciation section.

S

semrgnAuthor

Thank you - i did do that. I still don't see anywhere to enter the date of the sale of the property. I expected to see something on this screen to enter a sale date. What am I missing?

A

Anonymous_Answer

Employee

@semrgn wrote:

What am I missing?

Click the Edit button, proceed through the screens and check the box that reads, "The item was sold, retired, stolen, destroyed, disposed of.......".

You should then see a box directly below that which will prompt you to enter the date you sold the property.

F

ffag

Having difficulty recording the purchase price plus the expenses along with recording the selling price plus the selling expenses in order to come up with the capital gain or loss. My intuit turbotax is *Home & Business*

J

jmconstruct01

I am having the same problem. In my case, the condo building was completely destroyed by fire. After 6 years of rebuild still incomplete and significant association costs, we sold the deed for slightly more than originally paid for in 1991 but I do not see where to enter the improvements made to the original unit prefire. Please, please guide me to the form section I need to use!

Question 2. I have a long term capital loss carry forward from a stock sale loss. Can I apply that against any gain on the condo?