I appreciate all your info. Although, I guess I'm still unclear as to if form 4797 is correct. Per the IRS it would only be correct if my rental activity rises "to the level of a trade or business" which I don't believe it does. It is one of two rental properties I own (single-family homes), but there is minimal management except for minor repairs here and there as needed so I don't believe it classifies as a "business" per the IRS description. Thoughts?
Secondly, I did try re-adding the property back into the Business > Rental section. I believe I have it all added back in correctly. I checked the box under "Property Profile" stating "I sold or disposed of this property in 2020", but I do not see where I can put the final sale information and cost basis adjustment. Where would I find that? I see the note when I checked that box saying "You'll enter the details of this sale when you reach the depreciation section later" but I am not seeing where I do that in that section.
