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Investors & landlords
Ok ... so you had a rental property that sold in 2018 so you must be completing the 2018 return. In the Sch E section for the sold rental you will indicate it was sold in the asset section and the depreciation recapture will be done automatically on the form 4797. You must indicate the property was a rental for just 1 day so the sch E is produced and not removed. Follow the screen instructions carefully and the suspended losses will also be released.
‎January 11, 2020
5:18 PM