Perhaps you can help with understanding the "sale" of assets, when selling the rental home. Assets include the home itself, the roof, appliances, fencing, etc. In reporting the sale, I need to report the "sale" of the assets too. Most sale for at least $1.00. These assets in some cases are 10 - 12 years old. Do I enter the original cost of these items, + $1? Trying to wrap my head around how the IR S, or anyone else, including the buyer, would believe that I could sell these items/assets, at full price (original cost) back 10+ years ago. Then add a $1. Thanks - Just want to enter the data correctly, and stay off the IR S-radar. Thanks
