kwyp
Level 4

When a rental property is sold, supposed it is sold with 1,200,000. Does it need to split two parts on Form 4797? Supposed  the price split as below: 

1. ) Land selling price: 400,000

2.) Building selling price: 800,000

Where to obtain the above data?  Does it search from final settlement statement, or from the county website which you pay property tax? 

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