This doesn't seem to work. I have property bought at 435k, converted to rental at 280k and sold at 345k.
As a profit, basis is computed from 435k, and therefore net gain is 0.
As a loss, basis is computed from 280k, and therefore net loss is 0.
In the business sale section:
If I try to enter as a profit in turbotax (using 435k), and it sees a gain less than 0, it converts it to a loss (which is NOT what it should do.) If I try to enter as a loss (using 280k), it sees a loss less than 0, and converts it to a gain (again, this is NOT correct).
How do I get turbotax to enter two separate 4797 forms with gain 0 and loss 0 respectively?
