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How to I report in ProSeries the sale of a rental property with 50% personal occupancy for only the last 3 years of 10 years of ownership.

burchfieldcpas
Level 2

Client owned a rental property for 10 years and has lived in it while still rented out 50% for the last 3 years.  How do I report the sale of the property in 2021 in ProSeries?  Thanking you advance for any guidance.

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1 Comment 1
dkh
Level 15

I think you'd report on the Home Sale Worksheet but not completely confident since it was 50% rental and 50% principal residence.  Complete Part III for the days it was rental and Part IV to recapture depreciation.

 

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