Skylane
Level 11
Level 11

In general, and I hope you get other opinions, you can report the disposition on 4797 with no gain or loss. Then next year Sch E disappears. The asset would be recorded on the 1120s. You  would transfer the existing basis to the 1120s and continue the depreciation of the asset as well the rental income/expenses… 

Not sure I’d offer that as a definitive answer or want to do the returns … i would have plenty of unasked q’s about the particulars.

good luck

 

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