Deductions & credits

Ok ... you do not enter the assets sold twice ... in the rental section you will convert them all to personal use to stop the depreciation.  Then look at the total depreciation taken over the years by VIEWING the depreciation worksheet.  Then armed with this amount you can sell off the personal residence in the HOME sale section and you will have the depreciation taken to enter when asked.  You must recapture the depreciation taken while it was a rental ... this should show up on the form 4797  AND  you must click the box for the 1099-S to avoid getting an IRS letter later ...

 

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