Report the gain or loss on the sale of rental property on Form 4797, Sales of Business Property or on Form 8949, Sales and Other Dispositions of Capital Assets depending on the purpose of the rental activity. Individuals typically use Schedule D (Form 1040 or 1040-SR), Capital Gains and Losses together with Form 4797 or Form 8949.

For further information, refer to:

• Publication 544, Sales and Other Dispositions of Assets,
• Publication 550, Investment Income and Expenses,
• Instructions for Form 4797, Sales of Business Property, and
• Instructions for Schedule D, Capital Gains and Losses.