If purchase large property 11/4/2004 consisted of 4 office spaces and 3 apartments all had schedule e no depreciation sold 9/26/2018 as 1 sale. what form do you use 4797?

frelarco · ‎12-07-2019

this property has 7 schedule e one for each so how do you claim the sale for each when it was sold as 1 property. do you divide the total sale by the 7 schedule e?

IRonMaN · ‎12-07-2019

No depreciation? You might want to research form 3115 before proceeding any further.

Slava Ukraini!

View solution in original post

frelarco · ‎12-07-2019

thank you

abctax55 · ‎12-07-2019

And research "allowed and/or allowable" depreciation.

HumanKind... Be Both

poolcleaner · ‎12-07-2019

As someone who is struggling through a Form 3115 right this minute, I can't tell you how much help it was to purchase the text on Form 3115 from brasstax.com. It may be one of the best $20 expenditures in a long time. They emailed it to me as soon as I bought it. I hope I NEVER have to fill out another 3115 but the text has made it dramatically simpler.

George4Tacks · ‎12-07-2019

Here is a link for others that want this Select from the drop down at https://brasstax.com/shop?keywords=3115&olsPage=products%2Ftextbooks-no-cpe

Answers are easy. Questions are hard!

poolcleaner · ‎12-07-2019

I needed it immediately 2 days ago so I called their telephone and did as they said ..sent them an email. They are in California, so as soon as they opened, a very nice lady emailed and called me. I was taking a mental break from that form and that is how I came across this post. Deja vu.

abctax55 · ‎12-07-2019

I've had that in my professional library since TPR's came down. It IS invaluable, especially at only $ 20.

HumanKind... Be Both