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Investors & landlords
I would report in the rental section.
When you edit the "asset" and check the box it was sold, you can say "No" when you get the "Special Handling" screen. It will then ask you about the sale and a bunch of questions to determine if you qualify for the 2-out-of-5-year exclusion.
You will still owe tax on the depreciation that you took.
When you edit the "asset" and check the box it was sold, you can say "No" when you get the "Special Handling" screen. It will then ask you about the sale and a bunch of questions to determine if you qualify for the 2-out-of-5-year exclusion.
You will still owe tax on the depreciation that you took.
‎June 6, 2019
6:25 AM