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Investors & landlords
When I click on update under sale of property/depreciation and then select edit of Rental House, then it takes me to:
Did you stop using this asset in 2021?
Select Yes if the item was:
Sold
Stolen
etc.
I select Yes, then it takes me to Disposition Information where it asks me the date of sale and date of actual acquisition. Then it goes into Special Handling where I select No. Then whether the asset was included in the sale of my main home and I select No. Then it takes me to the Sales Information page where I enter the allocated sales price and expenses in both improvement and land. Then it takes me to the question of whether I used this rental property as a personal residence any time after May 6, 1997.
When I click done, the summary page then shows what I entered under Business Items / Sale of Business Property.