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Investors & landlords
Coleen,
It was rented until June 30, 2019.
It appears if I use the original cost I would still have a slight gain after subtracting depreciation. Therefore I would enter the sale of the home in the Sale of Business Property section(not the Rental and Royalites section under property sale/ depreciation because that it using the FMV at conversion).
So, my question is what do I enter in the sales/depreciation section in order to show a disposition for each asset (home and other assets)? It asks for sale cost, sales, expense, etc.
‎February 17, 2020
8:39 AM