Yes, that is my goal. I'm not clear on the "disposition of the asset (building." I think my problem begins when answering the step by step question asking if I disposed of an asset.
If I answer "none of the above", the Smart Worksheet is ok. But it does generate a Form 4797 showing a huge $1M+ loss on the "Current Year Dispositions Smart Worksheet." because of the gross sale being zero. Maybe that doesn't matter (?) if this is the final year of trust accounting. It would just be disregarded. ??
If I answer that the property was "sold or otherwise disposed of," then I get the tracking of the $1M + loss to my K-1. I certainly cannot inherit property and the loss as well. Yet, the property was truly disposed of when given to me. I just would like the $3K depreciation for the 2 months and nothing more. I'd like input on what specifically do. and/or if I should answer No to selling or disposing of asset.
