TaxGuyBill
Level 15
09-17-2023
02:14 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I don't use ProConnect, so maybe I'm wrong, but ... why are you wanting to enter the sale on a depreciation screen?
You are reporting the sale of a Principal Residence (on Form 8949/Schedule D), but it seems like you are saying you want to report it as a rental (which might incorrectly go to 4797, but as I said, I don't use ProConnect). Why not just report it as a Principal Residence?
As a side note, if you are claiming the §121 exclusion, it looks like your client has "Nonqualified Use", so don't forget to report it that way.