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cbasta
Level 1

Where is depreciation recapture for a sold rental home entered?

I've sold a rental home and have entered that information under Rental Properties and Royalties.

Where is the depreciation recapture entered?

1 Best answer

Accepted Solutions
Critter-3
Level 15

Where is depreciation recapture for a sold rental home entered?

If you sold the rental using the rental section then you need to address every asset listed in the asset section of that Sch E input tab.   If you do not have any assets listed there then get them entered properly so they can be disposed of and the form 4797 can be populated. 

 

If course the form 4797 us not expected to be ready until 1/21 and the IRS will not be processing returns until at least 1/27 so patience will be needed by all. 

 

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3 Replies
Mike9241
Level 6

Where is depreciation recapture for a sold rental home entered?

it should be automatic from the sales information. look at form 4797.

cbasta
Level 1

Where is depreciation recapture for a sold rental home entered?

Form 4797 indicates: "Not Done".

Critter-3
Level 15

Where is depreciation recapture for a sold rental home entered?

If you sold the rental using the rental section then you need to address every asset listed in the asset section of that Sch E input tab.   If you do not have any assets listed there then get them entered properly so they can be disposed of and the form 4797 can be populated. 

 

If course the form 4797 us not expected to be ready until 1/21 and the IRS will not be processing returns until at least 1/27 so patience will be needed by all. 

 

View solution in original post

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