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June 1, 2019
Question

Should I enter on Schedule e?

  • June 1, 2019
  • 1 reply
  • 9 views

Regarding loss in sale of rental property; on Schedule E, asset entry worksheet, line 21, do I enter the amount we received after paying off the mortgage ($28500) or the actual sale amount? Cost Basis $185000, sold $165000?

1 reply

June 1, 2019

You would enter the actual sales price. The mortgage payoff has nothing to do with capital gains or losses.