Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Sale of Rental Property

Paul-G-328
Level 4

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?

0 Cheers
1 Comment 1
GodFather
Level 8

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