What version of TurboTax do I need for sale of rental property?

Premier edition
The Premier edition can be used to report the sale of the rental property.

Can you use TurboTax If you sold property?

You can use TurboTax if you bought/ sold a home.

How do I report a rental sale on TurboTax?

Or go to My Account >> Tools >> Topic Search. Type in “sale of business property”, then click the topic in the list to go directly to the start of this section. At the start of this section, choose “Sales of business or rental property that you haven’t already reported” (see screenshot below – click to enlarge).

Which TurboTax do I use if I sold my house?

You will need the online TurboTax Premier or Self-Employed edition to report the sale if you are using the online editions. Make sure that you indicate that you want the sale of the home reported on your tax return.

How to sell a rental property in TurboTax?

Start working through Rental & Royalty Income (SCH E) “AS IF” you did not sell the property. One of the screens near the start will ahve a selection on it for “I sold or otherwise disposed of this property in 2019”. Select it.

Can you deduct the sale of a rental property on your taxes?

Unfortunately, unless you had the property available for rent, these expenses are not deductible. Vacant while listed for sale. If you sell property you held for rental purposes, you can deduct the ordinary and necessary expenses for managing, conserving, or maintaining the property until it is sold.

Where do I report the sale of my rental property?

Eventually you’ll get to the Rental Summary screen. Here, you can report the sale in the Sale of Property/Depreciation section, along with any other pertinent info (income, expenses, etc.) See I sold my rental property. How do I report that? June 4, 2019 7:34 PM Where do you enter the amount of money you got for the rental?

Can a rental property be listed for sale?

Vacant while listed for sale. If you sell property you held for rental purposes, you can deduct the ordinary and necessary expenses for managing, conserving, or maintaining the property until it is sold. If the property is not held out and available for rent while listed for sale, the expenses are not deductible rental expenses.