I acquired a small home on six acres in 2012 and immediately began renting the home. We decided to sell the house and 1 acre and then sold the remaining 5 acres to another buyer. I had the five acres surveyed out of the original plot. Can I lump both sales together seeing that the property has been a whole the entire time I've owned it? Or, should I list the house and 1 acre as the sale of the rental property and list the sale of the 5 acres as the sale of an investment property? Please help! I'm in Tennessee so there are not any state taxes to worry about.
