Bought a condo in 2007. Moved out and began renting Jan 2016. Pipe burst, inhabitable, 5/28/19. Repairs took until Nov 2019. No rent 2020, sold 3/6/20. How do I report?

[sag_redhead]

Do I delete asset because there is no rental income in 2020?  Where do I report sale? Repairs added to basis, where do I report that?  Any partial exclusion of capital gains since it was my primary residence for 9 years?

[Critter-3]

Do I delete asset because there is no rental income in 2020?  If you reported it as a rental in 2019 then do NOT delete the asset.  And to keep it active as a rental in the system you will have to enter 1 day of rental use ... it is allowed.

Where do I report sale?  In the rental section you will indicate it was sold in the info section of the Sch E and then sell off all the assets listed.

Repairs added to basis, where do I report that?  Repairs made in 2020 are listed as repairs on the Sch E ... do not try to enter them as assets in the year of sale or you will be pulling out your hair shortly.

 Any partial exclusion of capital gains since it was my primary residence for 9 years?  No partial allowed since it was not your personal residence for more than 3 years (1/16 to 5/19) in the 5 year period prior to the sale (3/15 - 3/20 ) 

[Critter-3]

Do I delete asset because there is no rental income in 2020?  If you reported it as a rental in 2019 then do NOT delete the asset.  And to keep it active as a rental in the system you will have to enter 1 day of rental use ... it is allowed.

[Critter-3]

Where do I report sale?  In the rental section you will indicate it was sold in the info section of the Sch E and then sell off all the assets listed.

[Critter-3]

Repairs added to basis, where do I report that?  Repairs made in 2020 are listed as repairs on the Sch E ... do not try to enter them as assets in the year of sale or you will be pulling out your hair shortly.

[Critter-3]

 Any partial exclusion of capital gains since it was my primary residence for 9 years?  No partial allowed since it was not your personal residence for more than 3 years (1/16 to 5/19) in the 5 year period prior to the sale (3/15 - 3/20 )