I have a similar situation, but with more complications for which I have failed to find any answers. I sold a short-term rental home this year that was also used for personal use every year, but never used as a primary home. I know I am not entitled to any exclusion of capital gains, but I can't find any guidance on the specifics of allocating and reporting the business and personal gains in Pub 523 or any other reference. I have gotten as far as figuring out that I need to manually complete the "enterable 4797 form" since the program can't handle this situation. This also requires manually calculating the business use gains for the building and land separately, but no instructions anywhere on that and allocating the business and personal use.
To make it more interesting, I had a new roof put on about 6 months before the sale, and I purchased a new golf cart about the same time that also conveyed with the property as part of the sale. Therefore, these are reported in a different section as short-term gains. I have read conflicting guidance on this site whether I can allocate the sale price of the home to take losses on the roof and golf cart, They are listed as separate assets associated with the home and having their own depreciation.
Any expert help with this situation would be appreciated!
