It's not really necessary since you are reporting the sale in 2021. You can use Sale of Business Property as indicated by Tax Champ @Carl.
Follow the instructions provided below. You must find the depreciation used on the rental property from the time it was rented until you removed it from service (1/1/2020). The depreciation must be recaptured.
- Click on Federal in the left column
- Wages & Income at the top
- Scroll down to Other Business Situations
- Select Sale of Business Property
Be prepared with the sales price, sales expenses, cost, depreciation used, for each asset being sold.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
