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Investors & landlords
I don't see a disposal section on schedule E, other than reducing the Fair Rental Days (which I did).
"so how did you stop depreciation on the property and include the land cost in the sale info?": depreciation was reduced since I reduced the Fair Rental Days. Note that I still own the land, as only the structure was destroyed. So there is no 'sale info' for the land. There will be in a later year if I sell it.
"most likely the way you did it when you roll 2023 into 2024 the property will still be in the file": the property needs to still be there since I still own the land. But all the assets are gone.
‎April 15, 2024
5:16 AM