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dcarusocpa1
Level 1
March 3, 2022
Question

How to record a sale of a rental property with multiple assets? Do i need to check a box for a final rental property return?

  • March 3, 2022
  • 1 reply
  • 6 views
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1 reply

IRonMaN
IRonMaN
Level 15
March 3, 2022

You have two choices.

1.  Allocate the sales price between all of the assets.

2.  Group all of the assets together and report as one sale.  Which would mean adding all of the costs and accumulated depreciation totals together, creating one asset using those totals and deleting the individual assets.

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