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How do you enter sale of rental property

clarity3
Level 2
 
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6 Replies 6
Just-Lisa-Now-
Level 15
Level 15

its a multistep process, you may want to peruse the various posts about it and see if one helps you out...Im not sure Intuit has a step by step guide, it didnt come up when I was looking for it..heres a list of posts asking how to do it, maybe one or more will help.


https://www.google.com/search?q=proseries+sale+of+rental+property&oq=proseries+sale+of+rental+proper...


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
clarity3
Level 2

Thanks.  The steps for rental sales take you to the land of confusion.  That's were I started.

Just-Lisa-Now-
Level 15
Level 15

I helped someone with this over in the FB group, see if this screen shot helps at all

saleofrental.png


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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clarity3
Level 2

Where do you put the improvement expenses on form 4797 for the sale of rental property.  

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Erica
Level 1

I have this same question - were you able to get help with it?  (I'm using basic as well)

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clarity3
Level 2

Not exactly. My guess is that the improvements would be included as part of the cost basis.  I wish PS would do a better job of explaining this. 

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