SodaMissy
Level 1
03-18-2022
10:11 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Sale of Vacation rental home. Entered 2 to delete next year to take all expenses for 2021. Lacerte still showing carryforwards to 2022. Need help with entry to get the program to take 2021 expenses and no carryforwards to 2022.
Labels
George4Tacks
Level 15
03-19-2022
09:19 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Was the vacation home sold? Was it a total disposition and you indicated that in the sale input?
Answers are easy. Questions are hard!
tyler919
Level 3
03-19-2022
09:22 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Are the carry forwards all Depreciation items? If so, make sure in the Sale you have "sold" all of those items in their respective depreciation screens.
sjrcpa
Level 15
03-19-2022
10:05 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
The vacation home rules still apply in the year of disposition. You do not necessarily get to claim all of the expenses.
The more I know the more I don’t know.
