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Investors & landlords
Thank you ThomasM125!
Yes, I will deduct the total basis for the sum of all sales. I should have said that. My mistake.
A follow-up question: Whether I send in a statement to the IRS or report each sale separately, I must report the date acquired for each item that I sold. What if the item was acquired years ago as a gift and I don't know the date acquired? I tried to report each sale separately, but turbotax will not allow me to complete the section without entering a date acquired. (For the 2 items received as a gift I was planning to report a zero basis on those.)
Thanks again!
What information do I need to include on the
‎February 11, 2021
5:40 PM