I have a client that had several rental properties on Schedule E. He went to a separate CPA to prepare a Gift Tax to transfer his properties to his sons and daughters. How do I report this transaction on Proseries? I talked to the CPA and he told me just to leave them there but I’m not convinced with that solution.
With no selling price, the software reports nothing on the return. But sounds like that is an issue for next year if the transfer didn't take place until 2020.
