Thank you Criter-3. 🙂
Yes, I'll use 4797 thank you for educating me to that. I found that I would use that with a non-installment sale since my sale was lump sum.
My clarifying question is this.
If I don't have any rental income anymore that whole year of the sale, do I also end up using the Schedule E OR is that "only" used when I have rental income?
Finally, is it a problem that the 1099-S was issued with the LLC EIN number on it, instead of it being issued to my social security number? Yes it's a disregarded entity, I know that rule, I just didn't know if I'd be able to add the LLC EIN inside of the joint return on the tax form. Is this possible? I don't want the IRS expecting a separate return under the EIN number since title issued the 1099-S to the LLC instead of to me.
Thank you. 🙂
