DSCPA
Level 1
12-07-2019
12:31 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
If the building was going to be for a rental or to sell, I believe you should put a -1 under "Form 4797:Depreciation Allowed" and type in "1" to designate as 1250 property. If it was to build for personal purposes, I guess just checking 2 under the 1099B question, and leave 4797 alone.