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Paul-G-328
Level 5
February 19, 2022
Question

Sale of Rental Property

  • February 19, 2022
  • 1 reply
  • 5 views

When reporting a Sale of a 2 Family rental on Form 4797 when the taxpayer lives on 1 floor do you just report 1/2 of the proceeds in column d of the worksheet?

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1 reply

GodFather
GodFatherIntuit Community Champion
Intuit Community Champion
February 19, 2022

Assuming the rental is approximately the same square footage and condition as the first floor, that would seem like a reasonable approach.  

 

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