Vacation Home Sale

[DJ]

What do you use to report the sale schedule D or Form 4797.  Is depreciation ordinary income?

[jeffmcpa2010 · Accepted solution]

If it was ever rented out it would go to 4797 (Enter the sale information on the Asset Entry on the Schedule E asset input)

If purely personal - goes to Schedule D use the 1099-B input page and just enter the information you have to in order to get it to work.

If there is a loss remember that it is non-deductible for personal assets.

[DJ]

Thanks for your help.

[jeffmcpa2010]

Glad I could help