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posted Jun 3, 2019 1:53:24 PM

Sold a rental property last year

Is there a difference in the amount of tax due if I were to record the sale of a rental property under business rather than personal?

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1 Replies
Level 15
Jun 3, 2019 1:53:25 PM

No. Either way, the sale is reported as the sale of a "business" asset, on form 4797, not schedule E or Schedule C