PaulaM
Expert Alumni

Get your taxes done using TurboTax

You don't need to enter the 1099-S form and the IRS will only be concerned that the data from the form is accounted for on your return. Enter the sale under the Rental section and indicate that you sold the property in the Property Profile section. 

 

Then move on to the Asset/Depreciation area where you will enter the details of the sale and recapture depreciation and calculate any remaining depreciation for the property. All assets in this section need to be disposed of.

 

Note: If you don't indicate in the Property detail section that the property is sold, you can still do so in the Asset/Depreciation section.

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