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Level 3
posted Apr 12, 2019 10:47:40 PM

How do I know if my rental property is an Intangible asset not Considered Section 1245 Property

I sold a house in 2018 that I had rented out for the last 5 years.  TT is asking me under "Special Handling required?" whether "This is an intangible asset not considered Section 1245 property".  Am I supposed to say Yes or No to that? How do I figure it out?  The explanation given by TT in the help link is not clearing any further.

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Level 15
Apr 13, 2019 10:53:13 AM

1 Replies
Level 15
Apr 13, 2019 10:53:13 AM