Level 3

Question

how to report on Proseries a sold rental home which qualifies as a principal residence also.

Forum|Forum|1 year ago
April 1, 2025
2 replies
23 views

How do I fill in form 4797 so it only gives me a capital gain on the depreciation portion?

ProSeries Professional

This topic has been closed for replies.

IRonMaN

Level 15

Go to the home sale worksheet

Slava Ukraini!

G

GiGi1160Author

Level 3

Thanks for responding. this part I know but how do I report the depreciation as capital gain that I took when I rented the place during a few years? How and where do I report that?

Thanks

qbteachmt

Level 15

I googled:

home sale proseries

and got this help article:

https://accountants.intuit.com/support/en-us/help-article/form-8949/entering-home-sale-exclusion-proseries/L4yUjCVgv_US_en_US?srsltid=AfmBOoqCYrpYeMuIton-efWBo857VI8eVi8m5WMGNa9MmLx2mjjddoVe&uid=m90aawva

Don't yell at us; we're volunteers

Just-Lisa-Now-

Intuit Community Champion

On the asset entry worksheet, right below the disposal section, you can Link it to the Home sale Worksheet so that the 121 exclusion can be applied.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

G

GiGi1160Author

Level 3

What about the depreciation I already took when the property was rented, where & how do I report that?

Thanks

sjrcpa

Level 15

If you follow Jeff and Lisa's instructions the software should calculate it.

The more I know the more I don’t know.

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