Investors & landlords

The land value and the personal property value will be sold as one piece in the personal residence section of the program and the rental portion will be sold separately on a form 4797 thru the Sch E section of the program.   This is one of those times where using a paid tax pro would be wise so you get this done correctly as this is nothing the program will walk you thru automatically ... a lot of the calculations will need to be done by you so the amounts entered can be correctly divided between personal & rental.