Sofia
Level 1

I sold a residential rental property in 2020. The property was not available for rent as we had to complete repairs and maintenance during 2020, and also because of the COVID lockdown mandate. There was no rental income. The property was not rented at all in 2020 and also was not used for personal use at all. How do I report this transaction? Do I still have to fill out Schedule E and indicate 0 days rented and 0 days used? What happens to the mortgage interest expense, property taxes, insurance, repair expenses, travel expenses to property that I usually was able to deduct on Schedule E? What sections of Form 4797 do I have to fill out? I expect to have a loss even after subtracting depreciation allowed and taken from the adjusted cost basis of the property. Thank you for any input and detailed answers, it will be very helpful. SOFIA

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