What is the criteria that determine whether Form 4797 is required? IRS Pub 523 seems to condition the need for F4797 based on making separate gain/loss calculations for business and residence portions of your property, not just the history of rental use. If anyone who has EVER had a property rented in it's entirety is supposed to make separate gain/loss calculations for business and residence portions of your property then I am mistaken. Also, am I allowed to just file Schedule E in the year of sale with zero rental availability days? Does the IRS see that is fine?
Thanks for helping. Please chime in if you can shed some light.
