The form for line 1b says to enter the total amount from lines 2, 10 and 24 due to partial dispositions of MACRS assets.
On line 2 I show a gain for the land for a rental property with no depreciation taken on the land.
I have zero for line 10 and on line 4 I have a gain after adjusting for deprecation taken for a rental.
If for example I have 20,000 for land gain and $80,000 for rental property gain what is supposed to be entered on 1b.
Is the amount be entered only the $80,000 for the rental property that had depreciation taken.
Appreciate a response to this message.
