HOW TO REPORT SALE OF RENTAL PROPERTY IN TAX FORM

Sale of RENTal Residence

Sales price (October 26, 2016)

Building 105,600

Land 55,000

Cost (October 18, 2010) ($40,000 assigned to land) 119,600

Depreciation allowed (Straight line MACRS) 16,190

Selling commission 8,440

Purchase costs (recording, other legal) 2,760

Sale of APPLIANCES WITH REsidence

Sales price (October 26, 2016) 4,600

Cost (September 25, 2013) 9,800

Depreciation allowed (Straight line MACRS) 6,037