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sale of rental

bandb
Level 3

New client has rental property that was sold this year. I entered building, land, improvements separately in Input / Deductions / Depreciation. In Details, I put prior depreciation , I went to Disposition, Bulk Sale, and put sales information. When I review return, the rental sale does not appear. I don't know what I am not doing such that the sale does not appear. Help!

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2 Comments 2
George4Tacks
Level 15

Enter date of sale on every asset and link to the (probably) first asset. Put sales price in ONLY the (probably) first asset. 

https://accountants.intuit.com/support/en-us/help-article/form-8949/entering-disposition-rental-acti...

In Sched E input be sure to put number of days rented and mark the 2=delete next year to release prior year losses.

 


Answers are easy. Questions are hard!
anvillaunch
Level 2

For the sale to appear on the form 4797 as it should, make sure you entered a disposition date sold and sales price.  That should be enough to at least make it show up.  But the most common reason it may still not work is when you are doing a bulk sale, you have to enter the disposition info in the lowest number asset (and the bulk sale info is blank in that one).  Then in the higher number assets that are part of the bulk sale, you must also enter the "Date Sold" (presumably the same date as the main asset). 

That confusing requirement that the lowest number asset has to be the primary one in a bulk sale is a frustrating issue that frequently causes confusion.

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