Carl
Level 15

Investors & landlords

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

No, no no. That's not the right way since you're not reporting the sale in the SCH E section of the program.

Work through the SCH E section and select the option for "I sold or otherwise disposed of this property in 2019". Then continue working it through reporting your rental income and expenses up to the closing date of the sale.

Now work through the "Sale of assets/Depreciation" section and on each asset work it through and select the option for "I stopped using this asset in 2019". Then on the "special handling required?" screen  you "MUST" select YES. If you select no you will be *forced* to enter sales information, and we don't want to enter that on the SCH E. Now remember to write down the prior year depreciation and current year depreciation for each asset as you work this through, because you will need the "TOTAL" of all depreciation taken up to the date of the sale, when you enter your sales data in the "Sale of Business Property" section.