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Level 1
posted Apr 10, 2022 6:54:53 PM

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

Just looking for how to enter the sale of a rental property in the 2021 program.

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1 Best answer
Level 5
Apr 12, 2022 10:21:07 AM

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

2 Replies
Level 5
Apr 12, 2022 10:21:07 AM

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

Level 1
Apr 13, 2022 12:01:06 PM

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"?