Question
Sale of vacation home
I am entering sale of vacation home in Proconnect. VH was used for short-term rentals and for personal use over the years. The whole sale price is assigned by the program to the rental portion of the home as of now. Can Proconnect figure out the gain or loss on the sale of the rental and personal parts of VH separately based on the usage? Rental/personal days are entered in the program.
i am following PC instruction, "selling" assets in the :"bulk sale" disposition, but it does not look right.
Have you had the same problem?
I will appreciate your input.
P.S. The agent suggested that the price should be assigned based on the agreement between the seller and the buyer, so no help there.
