I have similar situation. Rental property taken off market in 2015 to renovate for sale. Rental interview deletes property because no attempt to rent in 2016. When I do the sale of Business Property interview it generates a loss and plugs it on 1040 line 14 and deducts from AGI? I was expecting a passive real estate loss, but no impact on this year's return. The IRS is getting a 1099S on this sale so I don't see how it shouldn't be included in some way on return?
