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jhartwv
Level 3
04-11-2022
10:20 AM
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I've got a rental unit that was given up for 2 rental units with cash rec'd. I've got it all recorded on the Form 8824, but don't know how to dispose of the assets given up on Sch E rental so as not to generate further gain and depreciation recapture.
I've connected Fm 8824 to the Sch E, but don't see on the Sch E asset how it is connected. What sales price is placed on the asset to clear it and have the sale on recognized only o Fm 8824?
Thank you for any assistance.
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PhoebeRoberts
Level 11
04-11-2022
10:27 AM
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Use the 8824 input on the Depreciation screen for the asset given up. Don't create a new 8824 in the Dispositions screen.
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