Both answers seem to assume that there was a loss for the year, but there seems to be a profit from the question. I'm not sure if this makes it possible, probably not. But the intent of the law is to limit the claiming of losses, not regulate how to report profits. I don't see how there could be an advantage to Sch C over Sch E in this case. BTW you can depreciate the value of a building on Sch C.
... View more