Thank you for the quick and thorough response.
After I have switched to premier edition, when I answered yes to special handling required of the sale of the rental property. I no longer get "the program cannot compute automatically the sale information - in the footnote". Instead, the message was "the program will transfer this amount to the right forms for you". However, even after completing the rest of the sale of rental property step-by-step, I did not come across the "...Eventually, you'll come to the Rental Summary>sale of property/depreciation. screen, which is where you enter your rental income and expenses, assets and depreciation, and vehicle expenses...." and definitely do not see a Form 4797 nor 8949. So I am not sure if the right forms have been populated. Did I miss anything?
As to my following case. Where I have rented out part of my primary residence for full ownership duration and have sold my primary residence.
Should I have completed the "sale of home" step-by-step first (before entering the sale of the rental property). I have questions on what information to enter in the sale of home step-by-step portion.
For selling price - I assumed it should at least be the sale price, reported in 1099-S. Box 2
But what about adjusted cost basis - do I subtract the accumulated depreciation , But the accumulated depreciation seems to have to be entered in the depreciation taken after 1997 step (after one has answered yes that part of home was rented after 1997)
After the completion of the "sale of home" step-by-step process, I do see a generated Form 8949.
Thanks
