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Investors and rental owners
Sorry but when I arrive at the Capital Gains Screen, there is no option called 'type'. I checked off that we both had property to sell. The software then takes me to a Capital Gains form to fill out for each of us. EAch form asks for Proceeds, ACB and Total Outlays and Expenses. I filled out 50% of the Proceed, ACB and Total Outlays and Expenses on each of our Capital Gains form. This is an example only: Total Proceeds = $100.00 total from sale. Total Proceeds: me = $50.00; Total Proceeds: My husband $50.00. I assume this is correct? Thank you
October 30, 2019
12:45 AM
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Investors and rental owners
I do not have that screen available on my version of Turbo Tax. Which version of the software does this screen come with?
October 30, 2019
12:45 AM
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The screen shot was captured in the Online - Premier version of Turbo Tax from a PC.
October 30, 2019
12:45 AM
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Investors and rental owners
If the split option was not available (see snap shot) and manually entered the information between both returns you will still achieve the correct result on line 129 for Net Capital Gains.
October 30, 2019
12:46 AM
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When I go into rental property, it only asks if I had any income (which I did) it doesn't give any other choices.
How do I get into the proper part for sale of rental property?
April 19, 2022
1:36 PM
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Investors and rental owners
Thank you!!! It took me a long time to find this answer, and it totally answers what I was searcing for.
February 26, 2023
7:22 PM