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??
