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Sales, Trades, Exchanges
- What form(s) do we need to fill out to report the sale of rental property?
- What forms do we file to report a loss on the sale of a rental property?
- I have heard that I can sell my rental property and use the proceeds to purchase rental property of equal or greater value and the transaction is viewed just like an exchange in that the tax is deferred until the new property is sold. Is this true?
- Can we move into our rental property, live there as our main home for two years, and sell it without having to pay capital gains tax?
- We sold a rental property last year and used the like-kind exchange rules under section 1031 of the Internal Revenue Code to purchase a replacement property and defer the gain of the rental property sold. How do I report this transaction on my tax return?