sold my rental property

Forum|Forum|3 years ago
April 16, 2023
1 reply
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Having a problem recording the sale of my rental property. I've owned it since 1999, so it automatically comes up every year when data is transferred to my new return. Sold in July 2022. When I go to update information for 2022, I check the box that asks did I sell the property. I'm then asked if I rented it at all in 2022, I did not. I'm then told I should delete the property since I did not rent it at all in 2022. When I continue, the property is deleted and I'm asked no more questions about the property, sale date, price, etc. I'm confused.

PatriciaV

Employee

Yes, when you report that you didn't rent the property all year, TurboTax removes the information from your return. You will need to use the depreciation report from last year and your closing statement to report the sale under Sale of Business Property. Unfortunately, there is no way to recover the historical information that was removed.

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