ColeenD3,
Thank you for your response.
Q1) I went back to the "Review Information" page on the property and adjusted the following:
Cost: added Prior Depreciation back in. I had previously removed this from the basis and added in capital improvements (new roof) when putting it back into rental service in 2010 per guidance I received at the time. Cost went from $ to $121,635 for this property (including land).
Land: No change - $11,500
Prior Depreciation: Added 2001-2006 depreciation back in. Depreciation went from $30,855 to $49,674 for the whole period of ownership not including 2020 ($1522).
NOTE: I got a lot of expert advise when I moved the property from Rental to Primary Residence to Rental again. The consensus was that I should not recapture the initial depreciation until the property is ultimately sold AND I had to adjust the cost basis when renting for the second time to account for prior deprecation as well as starting a new deprecation schedule with the new basis number and the full period (27.5 yr).
Q2) I have answered the questions that record this property as my main home, and I have exemption for profits on the structure. At one point I recall entering the land value at sale ($92,400), but cannot find that point! The land is showing up on 4797 as an individual item in Part I, Line 2 (as well as a Section 121 exclusion of only $82,030). I can find the entry in the Forms section (Asset Wks) on line 24, but I cannot find the question that I answered in the "EasyStep" section. I am assuming that I should NOT have broken out the Land Sales Price as a portion of the total sale. Is this where I messed up? Should I have a form 4797 at all?
BTW, I have used Tax for years to keep all this stuff straight. Handling the conversion of this property has caused me the most headaches on my taxes every year (with a few amendments thrown in for good measure).
