Line 7. Your rental sale will show on Form 4797 and on Sch D.When you dispose of the rental house in the rental part of the program, it will move your information.You are selling the house, land and any other assets that were listed. Improvements and everything but the house and land, need to be sold for zero -since they went with the house. For example, a new roof of $10,000 that was only depreciated $1,000 leaves a $9,000 loss. To go through the rental section: Start by saying you rented it for a day or more In the asset section, mark that you sold the item and the date sold Special handling- select No Main home, select No Enter sales information- you have to break out the land from the house. You can use property tax valuation or another method to determine your reasonable answer. Continue, no, prior AMT depreciation - will be the same as the regular depreciation unless you are high income and have form 6251 in previous returns. If so, check them. continue, no to installment results for the house

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hilliarddebbie

Level 3

Question

Where on 1040 form do I put the sale of my rental house

Forum|Forum|1 year ago
March 20, 2025
3 replies
52 views

No text available

AmyC

Alumni - Intuit

Line 7. Your rental sale will show on Form 4797 and on Sch D.

When you dispose of the rental house in the rental part of the program, it will move your information.

You are selling the house, land and any other assets that were listed. Improvements and everything but the house and land, need to be sold for zero -since they went with the house. For example, a new roof of $10,000 that was only depreciated $1,000 leaves a $9,000 loss.

To go through the rental section:

Start by saying you rented it for a day or more
In the asset section, mark that you sold the item and the date sold
Special handling- select No
Main home, select No
Enter sales information- you have to break out the land from the house. You can use property tax valuation or another method to determine your reasonable answer.
Continue, no,
prior AMT depreciation - will be the same as the regular depreciation unless you are high income and have form 6251 in previous returns. If so, check them.
continue, no to installment
results for the house

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

hilliarddebbieAuthor

Level 3

What information do I need for sale of rental house and where on the 1040 form do I put the info?

AmyC

Alumni - Intuit

Line 7 of the 1040 is from your sch D. You need your 1099-S to enter the sales price.

As a rental, you already have the house and assets listed with the date in service, cost, and depreciation. Just dispose of each item.

If this is your first time using the software, you will need to enter the rental house information using your Sch E and asset depreciation schedules from last year.

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