AmyC
Expert Alumni

Investors & landlords

1. Yes, you will get a form 8582 that will carryover for as many years as you own the house.

2. You report your rental gain/loss on Sch E from the rental. You have assets associated, like the house, that are being depreciated on form 4562. You will mark the disposition there for calculating depreciation to that point. Then the sale goes to Form 4797 for the sale of the asset.

3. No, you don't add the rental income and losses again. You have the form 8582 that will carry to that year holding the information for you. 

4. You will not have a form 8582 the year you sell the house since it will be used up. You will just be using the prior year's 8582 to make calculations.

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