While someone is reading my question above, here is the other thing..
I actually had a loss on the home from sale.. So the building was sold for 240k - selling expenses of 30k = $210k and it was bought at $235k, but also went through 20k in depreciation, net $215k. So loss of 5k.
My question then is in form 4797 Part III, Line 24 (Total Gain), should I put -5k or 0? It is not clear how losses should be handled.. Please advise.
