WoodsideTomTax
Level 2
07-25-2021
04:17 PM
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Schedule D is for sale of assets - however in this situation, the taxpayer is gifting the rental property (which ill be reported in a separate gift tax return) meanwhile we are faced with disposing of the rental property in the donor's return. While schedule d will capture the basis and depreciation data - what do I use as selling price in order NOT to report taxable gain/loss?