How to report on 1040 disposition of rental property that was also used as primary residence?

[mlitt2003]

How to report sale of home where first 4 years as personal primary home and 12 years as rental property?

[mlitt2003]

This would be reported on 1040 at a loss.

[qbteachmt]

Please note that this is a duplicate for the same subject. The original topic is here:

https://proconnect.intuit.com/community/proconnect-tax-online-discussions/discussion/how-to-report-o...

[Just-Lisa-Now-]

You sell it as a rental property...being a personal residence 12 years ago (your duplicate post said 8 years as a rental) means nothing to your situation.

You'll have 8 or 12 years of deprecation to recapture, so while its possible you have a loss on the actual sale (your duplicate post mentioned a loss), you may have a gain to pay taxes on.

[mlitt2003]

Thanks,

My main problem is I am very un-formilar with this software.  The program I usually us to report a sale of property that is part personal and part rental is all imput on one screen and separates thye 4797 and 8949.  I am not sure what the help article I have is referring to when it tells me to go to screen 22 or screen 17.

Can you direct me to a help areticle that has both personal and rental disposition of the same asset?

Mitch

[qbteachmt]

@mlitt2003 

You asked Twice, which makes more work for your peer users that Volunteer to help you. Instead of continuing on this topic, here... You should go to your Original, here:

https://proconnect.intuit.com/community/proconnect-tax-online-discussions/discussion/how-to-report-o...

Because you are being helped there, and that is where you should continue the discussion. Thanks.

[abctax55]

The program I usually us to report a sale of property that is part personal and part rental

@mlitt2003  -  you don't *have* part personal & part rental property.  The personal part became irrelevant at day one of year six. 

And after 8 (or 12) years as a rental - I'd be really, really, really surprised if there is a loss after depreciation (allowed or ALLOWABLE) is considered.

Was that previous software TurbohTax?

[George4Tacks]

Reference to screen 22 or 17 or whatever is for Lacerte Not for ProConnect tax online.
Since it was a rental for 8 years you do it as a single disposition with the result going on Form 4797.
Try these help articles https://proconnect.intuit.com/community/forums/searchpage/tab/message?advanced=false&allow_punctuati...

[qbteachmt]

@Just-Lisa-Now- 

Please note that as a result of Duplicate Postings, this topic is now being addressed here:

https://proconnect.intuit.com/community/proconnect-tax-online-discussions/discussion/re-how-to-repor...

Thanks for being helpful, as usual.