In entering the sale of duplex, for the rental unit (which I did a 1031 exchange), I do this under the 'depreciation' section. Setting is the automatic 50% for half home and half rental.
1. Asks for Asset Sales Price (business portion only), Asset Sales Expenses (business portion only), Land Sales Price (business portion only) and Land Sales Expenses (business portion only).
Not sure how to separate out 'asset' and 'land', please advise.
I'm also assuming that 'business portion only' is simply half.
2. Not sure where to enter the 1031 exchange.
3. Not sure where to enter the home sale for the half that is my primary residence for past 20 years (so that I can put in the cost basis, remodel costs and the $250k deduction I take as homeowner).
Please advise and/or share links to how to enter all of this if they exist.
Thanks so much,
Adam
