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If purchase large property 11/4/2004 consisted of 4 office spaces and 3 apartments all had schedule e no depreciation sold 9/26/2018 as 1 sale. what form do you use 4797?

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Level 2

this property has 7 schedule e one for each so how do you claim the sale for each when it was sold as 1 property. do you divide the total sale by the 7 schedule e?

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Level 15

No depreciation?  You might want to research form 3115 before proceeding any further.

Wear a mask - the grandma you save could be your own.

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Level 15

No depreciation?  You might want to research form 3115 before proceeding any further.

Wear a mask - the grandma you save could be your own.

View solution in original post

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Level 2
thank you
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Level 15

And research "allowed and/or allowable" depreciation.

If a post answers your question, click on "Accept as solution" for future searches
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Level 8

As someone who is struggling through a Form 3115 right this minute, I can't tell you how much help it was to purchase the text on Form 3115 from brasstax.com.  It may be one of the best $20 expenditures in a long time.  They emailed it to me as soon as I bought it. I hope I NEVER have to fill out another 3115 but the text has made it dramatically simpler.

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Level 15
Here is a link for others that want this Select from the drop down at https://brasstax.com/shop?keywords=3115&olsPage=products%2Ftextbooks-no-cpe
Income tax returns are the most imaginative fiction being written today. — Herman Wouk
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Level 8
:+1:  I needed it immediately 2 days ago so I called their telephone and did as they said ..sent them an email.  They are in California, so as soon as they opened, a very nice lady emailed and called me. I was taking a mental break from that form and that is how I came across this post.  Deja vu.:+1:
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Level 15
I've had that in my professional library since TPR's came down.  It IS invaluable, especially at only $ 20.
If a post answers your question, click on "Accept as solution" for future searches
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