I have a situation with the sale of a rental property that was converted from personal use in 2015. Due to the basis rules when the property was converted, there is no gain or loss.
In the disposition section of the Asset Entry Worksheet, there is a line for 'Basis if different'. I would enter (1) the amount on the 1099-S, PLUS (2) total depreciation. When you do that, it should show a $0 gain/loss.
In the disposition section of the Asset Entry Worksheet, there is a line for 'Basis if different'. I would enter (1) the amount on the 1099-S, PLUS (2) total depreciation. When you do that, it should show a $0 gain/loss.
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