You are essentially selling two separate properties, the rental and the home. The rental section will handle all depreciation recapture and the home portion will be handled in the home sale section.
For the sale of Rental Asset(s:(
Yes - use only the business use percentage for sales price and sales expenses in the rental portion of your property.
sales price (business portion only) - is it correct that I should enter overall sales price * business use percentage??? (similar to concept of pub 523 "business" version of work sheet 2)
sales expenses (business portion only) - is it correct that I should enter overall sales expenses * business use percentage ???
For the Sale of your home portion:
Selling price - do I enter what was reported on 1099-s times (1 - business use percentage) or what has been reported on 1099-S??? Personal portion only
Sales expenses - do I enter sales expenses times (1 - business use percentage) or 100% of sales expenses ???? Personal portion only
Adjusted cost basis - overall cost basis or (1-business use percentage)*overall cost basis?? Personal portion only
Depreciation after May 6, 1997 - should I enter $xxx4 (output from the depreciation deduction for Residential (from the sale of rental output))or $xxx1?? Do not make an entry, this should be handled in the rental assets with the sales information.
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