Owned rental property since 2015. Tried to rent again in Jul2019 but failed. Listed for sale Jan 20 sold in Mar. Do I report sale of rental or sale of business property?

posted

Do you at any time covert the property to personal use on ANY tax return EVER?

If no, then the property remains classified as Residential Rental Real Estate and you'll report the sale in the SCH E section of the program.

WARNING! On one of the screens it will have a checkbox selection for "I did not rent or attempt to rent this property in [tax year]" ***DO*** ***NOT*** under any circumstances and with no exceptions select that box. If you do then you will be ***FORCED*** to delete the SCH E and you will lose **EVERYTHING** related to that property, to include your carry over losses and depreciation history. Do that, and you're up a creek without a paddle in a canoe with a gaping hole in it riding the rapids.