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How to enter the sale of a rental property in 2021 tax program?

Forum|Forum|3 years ago
April 11, 2022
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Just looking for how to enter the sale of a rental property in the 2021 program.

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Best answer by lamanhcb

The details of your rental property sale are entered in TurboTax under the "Investments Profile". You can get there in the EasyStep view by:

Go to Income & Expenses > Investments Profile > check the top box "Capital Gains or Losses"
Continue to the Capital Gains Profile page, check the top box "Sold stocks, bonds, real estate or other capital property", continue
Check done on the next screen
Check box "Sold real estate & depreciable property" and continue to the page where you will be asked for these entries.

Thank you for using TurboTax

L

lamanhcbAnswer

The details of your rental property sale are entered in TurboTax under the "Investments Profile". You can get there in the EasyStep view by:

Go to Income & Expenses > Investments Profile > check the top box "Capital Gains or Losses"
Continue to the Capital Gains Profile page, check the top box "Sold stocks, bonds, real estate or other capital property", continue
Check done on the next screen
Check box "Sold real estate & depreciable property" and continue to the page where you will be asked for these entries.

Thank you for using TurboTax

1

110PRAuthor

Thank you. I have another question. I have filled in the "Real Estate and Deprecible Property" info but ehrn I get to the Rental details there is form T776 asking for class, property id, proceeds and personal.

I believe the class is 1 and the address is for the next field but what is the figure for "proceeds" and "Personal"?