Sales, Trades, Exchanges
Question: What form(s) do we need to fill out to report the sale of rental property?
Answer:
The gain or loss on the sale of rental property is reported on Form 4797 (PDF), Sales of Business Property. Schedule D (Form 1040) (PDF), Capital Gains and Losses, is often used in conjunction with Form 4797.
For further information, refer to Publication 544, Sales and Other Dispositions of Assets, Publication 550, Investment Income and Expenses, the Instructions for Form 4797 (PDF), Sales of Business Property, and the Instructions for Schedule D (PDF), Capital Gains and Losses.
Category: Sale or Trade of Business, Depreciation, Rentals
Subcategory: Sales, Trades, Exchanges
