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C
chenschuh
Level 5
March 16, 2026
Question

Rental property sale

  • March 16, 2026
  • 1 reply
  • 0 views

Renter's lease end in 12/31/2024 and did not want to renew. The taxpayer decided to sale the rental property  and spend a month fixing up the rental house and sold the house at the end of Feb. How do you handle the depreciation sheet in proseries in 2025? 

1 reply

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
March 16, 2026

Did you enter the disposal date of 12/31/24 on last years 2024 return, or is it still showing as a rental in 2025?

 

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
C
chenschuhAuthor
Level 5
March 16, 2026

I didn't enter disposal date in 2024. Because the rental sold in 02/28/25. He didn't know he was going to sale it then. The lease was until 12/31/2024. so he didn't dispose the property in 2024.

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
March 16, 2026

I guess you can set the assets to .01% for those 2 months of 2025 (so no depr computes), then dispose of them on 2/28 like you would with any other rental property.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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