Still thoroughly confused - I've read and reread both your instructions and the link many many times.
You indicate "Any repairs should be included as an expense on rental activity. Also if you have a passive loss carryover see the instructions below to be sure it's accounted for in the year of sale in full."
There are no passive loss carryovers. As to the repairs - they were all expenditures for the preparation of sale and were incurred after the tenant vacated; i.e., hiring a contractor to replace a bathroom floor, repair to HVAC system, etc.
Are you indicating those amounts should be entered on the section of the Step-by-Step where I previously included those costs when the property was tenant occupied?
If not, where? I understood those amounts are considered as expenses of sale that I would add to the closing costs.
Since I'm having such a tough time - would it make sense to attempt to skip ahead to the Sale of Business Property before completing the Depreciation Section? Would that possibly make it more understandable or does that affect the calculations.
Just grasping at straws here.
