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Sale of home that was used as rental property

cowboys15
Level 2

Client sold his home after using it as rental property for 3 years.  Prior to that he lived in house for 10 years.  The property is on the depreciation screen.  I entered the Sale date, Sale price, and then scrolled down to "sale of home".  Checked the boxes "sale of home" and "2 year used test"

The problem is that the Sale price doesn't show up on 4797, and it shows as a big loss.  Can someone tell me what I'm doing wrong??

 

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Accepted Solutions
Karl
Level 8
Level 8

I just tried to duplicate your situation, and it shows the sales price on my 4797. I'd call Support and setup a glance session for them to troubleshoot it for you.

*If this (or another answer/reply) solves your problem, please click "Accept as Solution" to get this post out of the "Unanswered" queue of posts.*

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1 Comment 1
Karl
Level 8
Level 8

I just tried to duplicate your situation, and it shows the sales price on my 4797. I'd call Support and setup a glance session for them to troubleshoot it for you.

*If this (or another answer/reply) solves your problem, please click "Accept as Solution" to get this post out of the "Unanswered" queue of posts.*
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