@justine626 wrote:
- Do I report the disposition under Rental Properties and Royalties on one of the rental property only in schedule E and fill out the Car and Trust Expenses Worksheet for 1 property or do I need to fill that out for both properties? Or do I report it under Business Items - Sales of Business Property section?
I entered $6848 which is the depreciation taken for the 3 years for both properties.
In the rental section, say you converted the vehicle to personal use. Do that for both properties. Then enter the sale in the Sale of Business Property section, using your manually calculated numbers.
How did you calculate $6848? I don't know the details of your situation, but at first glance that seems extremely high.
