Investors & landlords


@pd215 wrote:

How would I enter the sale if the entire asset/depreciation section is gone? 


What you are seeing is typical program behavior; if you do not indicate that the property was in use as a rental, the program will delete the property (and asset).

 

You most likely should have indicated that the property was converted to personal use in the 2021 program to stop depreciation at that point since the property was taken out of service as a rental. Of course, doing so would have created issues when you transferred your 2021 return into the 2022 program.

 

At this point, you can enter the transaction in the Sale of Business Property section of the program (provided you are using a version that supports it), but you will have to know the accumulated depreciation figure as well as other information about the property.

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