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where to report a sale of rental property in a c-corp form 1120 ? should i report the sale in form 4797 or schedule d ?

hdt
Level 1

in the year of 2018 to 2019 tax returns the c corp filed 11 rental properties as a total lump sum in term of income, expenses. and depreciation. in the tax year of 2020, 3 rental properties (of those 11 properties) were sold resulting in a long term gain. should i break down 11 properties so that those 3 sold properties depreciation could be calculated and reported in for 4797 ?

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sjrcpa
Level 15

Yes.


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