Re: Mike 9241, "In Turbotax you use the home sale worksheet. in addition to..."
Thanks for responding. I did that worksheet. I'm not having problems with the exclusion or the depreciation recapture. They are relevant to the question, but the core question is "What about Form 4797 and what about Schedule E?"
I think the "separate gain/loss calculations" thing seems important. ?
I did the Step-by-Step and it never got the passive activity losses counted. I tried making a Schedule E just for the PALs but I need to resolve the whole "What is the truly correct set of forms I should file" question before I start adding forms TurboTax didn't insert. Further, I don't want a return with form conflicts, like a Schedule 1 referencing a non-existent Sch. E or a Schedule E without the F4797 it sorta implies (I don't actually know if those examples are incompatible but you get the idea).
I have never sold a rental property before and I need someone to tell me whether to file E and 4797. Basically, are either of the methods I mentioned actually right and if so which? Or, if not, what to file?
Again, thanks for your help.
