Thank you for your response.
1. I must have filled in the 4562 worksheet when I started renting the property in 2014, but when I look at the submitted 4562 for 2014 now, I don't see the total cost listed anywhere on the form. It has the basis for depreciation, but that does not include the land value (which I feel is expected since land is not used to calculate depreciation). It is possible, TurboTax saved the total cost even though it was not reported to the IRS in 2014 and is using that for the sale now. Just like yours, it is listed on the Asset Entry worksheet for the Residential structure (but it was not on any form submitted to IRS). Does your 4562 for submitted in 2019 have the total cost listed?
2. My 4562 for 2014 has nothing on line 8 which corresponds to "Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7 ". I guess this is expected because I did not take the 179 election. Does your 4562 from 2014 have something on line 8?
3. TurboTax did not create a 4797 in 2014 (as I did not sell the property then), but it has created one for me now, but I have no way to look at the contents of the form. I think I have to first pay TurboTax before I can view the contents. Please let me know if there is a way for me to look at 4797 in 2014 or if I may be missing something.
Thanks again for all your help.
