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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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Sale of Rental Property
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Paul-G-328
Level 4
02-19-2022
01:09 PM
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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 Comment 1
GodFather
Level 8
02-19-2022
01:32 PM
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Assuming the rental is approximately the same square footage and condition as the first floor, that would seem like a reasonable approach.
