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Frequently Asked Tax Questions

Sale or Trade of Business, Depreciation, Rentals - Sales, Trades, Exchanges

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Rev. date: 1/2009

What form(s) do we need to fill out to report the sale of rental property?

Rental Property   Sales and Other Dispositions of Assets   Sales and other Dispositions of Assets   Sales of Business Property

The gain or loss on the sale of rental property is reported on Form 4797 (PDF), Sale of Business Property. Form 1040, Schedule D (PDF), Capital Gains and Losses, is often used in conjunction with Form 4797. For further information, refer to Publication 544, Sales on Other Disposition of Assets, Publication 550, Investment Income and Expense, the Instructions to Form 4797 (PDF), Sale of Business Property, and the Instructions to Form 1040, Schedule D, Capital Gain and Losses.

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Rev. date: 1/2009

What forms do we file to report a loss on the sale of a rental property?

Capital Gains and Losses   Rental Property   Residential Rental Property (Including Rental of Vacation Homes)   Sale of Property, Gain or Loss   Sales and Other Dispositions of Assets   Sales and other Dispositions of Assets   Sales of Business Property

The loss on the sale of rental property is reported on Form 4797 (PDF), (Sale of Business Property) as an ordinary loss.

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