Your suggestion is a completely different path than that suggested by DianeW777. If I enter the transaction under Sale of Business Property (as Diane suggested) it asks for the original basis, improvements, and depreciation taken. The results land on Form 4797 as a Sale or Exchange of Property Used in a Trade or Business. If I go the other route as an Investment Sale, it doesn't ask for improvements or depreciation.
I should probably clarify, I have been retired for several years and spend most of my time maintaining numerous rental properties, all of which I classify as QBI. I'm thinking this may allow me to report the transaction on Form 4797 since my main business is rental properties?
