Sold rental on installment sale I sold a rental property on an installment sale, carrying the mortgage for the buyer. There are several improvements I have been depreciating (roof, appliances) that have remaining value. What do I use for an asset sales price for those assets that have not been fully depreciated? If I use the remaining value, TurboTax does NOT add it to the basis for the installment sale, so I lose it. If I use zero, TurboTax takes it as "other 4797 losses" in the year of the installment sale. This is most advantageous to me, but I am afraid it will create a flag, and I want to do what is correct! |