Thank you for taking the time to respond.
My essential question now is if after calculating the sell-buy value (including basis, selling exp) etc. it turns out to be negative - so it is a loss then does it go to 4797 Part III at all? That part is all about Gain so I think No. I was using taxact and in there strangely Line 24 is put as a negative # in 4797. That was throwing me off. If Part III is all about gain, how is it accepting a negative #.
Maybe it is in Part I that it goes. I have to separate out the building and the land in 4797 Part I, so I now think there would be 2 line items in Part I there for each. And then it flows to Schedule 1 to 1040.
I think 4797 is in play since it is a rental home that I sold. Please chime in.
