How do I report the sale of a former rental property?
Feb 12, 2025 · If the rental is still part of your tax return I will provide steps or if it is no longer part of your tax return. Likewise you will see how to arrive at your sales price (s) and sales expenses.
Solved: Sale of Inherited Rental Property - Ordinary Loss? - Intuit
Dec 28, 2023 · Sale of Inherited Rental Property - Ordinary Loss? My mother-in-law passed away in September 2023 and we inherited her 4-flat building (which was titled in the trust). The building sold …
I sold Inherited rental property that I held less than one year ...
Jun 1, 2019 · I sold Inherited rental property that I held less than one year. Turbotax is placing as short term sale in 4797, when inherited should be long term. How do I enter? I've tried to enter in Rental …
Rental Sale with Improvements made both when being rented and and …
Jan 5, 2025 · Rental Sale with Improvements made both when being rented and and prior to sale Hello - I spent a few hours researching this but not able to find clear guidance. Property was my home since …
New Rental Property Expenses and Capital Depreciation
Nov 15, 2024 · 2) Additionally, can I claim expenses for property tax, insurance, and HOA association fees from the point I bought the rental property -- for the 2 months before I started advertising it to …
Sale of vacation home used also as a short term rental
May 9, 2021 · My husband and I purchased a vacation home (2nd home) 12 years ago, which we have used, but also rented (short-term rental) over the years. The business use of the house changed …
Solved: 2 out of 5 years rule - Intuit
Apr 25, 2023 · Since the owner (you) will be the last occupant to vacate the property prior to the sale, the rental period before you moved out is non-qualified use. Your tax exempt portion of your gain will …
Single owner LLC Schedule C or E Commercial and residential property
Apr 13, 2024 · As the title states. Formed a single owner LLC , purchased real estate that has both a commercial rental and residential rentals. Should I file a schedule C or E for the property purchase …
2 out of 5 year rule - Intuit
Nov 10, 2023 · Example: You purchase the home on Jan 1, 2010 (the closing date) and you move in that same day and actually sleep in the property that night, Jan 1 is day one of ownership and day 1 …
Sale of Rental Property that was originally my Primary Residence - Intuit
Apr 12, 2023 · Here are the details: - Bought a townhouse (property 1) as primary property in Oct, 2007 for $256, 500. - Lived in the property (primary residence) through March, 2015. Bought a new …