Did you rent out and actually collect rent for the period of time you owned it? If not, then I seriously question if you'll report "ANYTHING" concerning this on SCH E. Instead, this would be reported in the investments section as a short term investment since you held it less than a year. *SEEK* *PROFESSIONAL* *HELP* on this yesterday, if not sooner. If your state taxes personal income then that doubles your reasons to need professional help.
