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Investors & landlords
Hello, AMYC and any other tax experts. If you have no gain or loss because your sales number falls between the two basis original purchase price and FMV price at time of conversion to rental. How does one report on the FORM 4797 on Turbo tax? Do we say loss and modify the basis to be zero??? By making the cost basis equal the proceeds, netting out to a zero transaction??
May 13, 2021
9:03 AM