How do I change to the cost basis of the sale of a rental property

baskerball18 — Sat, 01 Jun 2019 19:45:26 GMT

If you have not filed, here are the steps (online): Si...

LinaJ2018 — Sat, 01 Jun 2019 19:45:28 GMT

If you have not filed, here are the steps (online):

Sign into your account and select Take me to my return
At the right upper corner, in the search box, type in schedule e and Enter
Select Jump to schedule e
Next screen, Income from Rentals or Royalty Property You Own, answer Yes
Follow prompts
On the screen, Do Any of These Situations Apply to This Property? Select Sold.
Follow prompts
On the screen, Review Your Rental Summary, under Sale of Property/Depreciation, select Start.
On the screen, Depreciation for Your Rental Property , select Yes and follow prompts
On the screen, Describe This Asset, select Rental Real Estate Property and Continue, follow prompts
On the screen, Tell Us About This Rental Asset, enter information, then Continue
Next screen, Tell Us About This Rental Asset, check the item was sold and Date you sold and Continue.