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Sale of Rental Property

I sold two rental properties last year and I am on Schedule E trying to figure out how to show that I sold the properties. I went into the Sale of Property / Depreciation section and selected "Edit" to edit the Depreciation of the house. I answered all the questions and now I am at the "Special Handling Required?" question and I am confused. Do I answer Yes or No? It seems like the last bullet point (This asset was a rental, a home office, or a home office improvement within a home.) would apply, but I am not sure if I should answer yes or no. Please help? Thank you!

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1 Reply
Carl
Level 15

Sale of Rental Property

It seems like the last bullet point (This asset was a rental, a home office, or a home office improvement within a home.)

No. the property was "NOT" a rental, home office or home office improvement *within" a home. Answer the question NO.

If you answer YES to that question, then you are telling the program that you did "NOT" sell the property, but disposed of it by some other means. The program will "NOT" ask you for sales information. So you need to answer NO.

 

 

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