TAXMAN Posted February 21, 2015 Report Share Posted February 21, 2015 Check me on this. TP sold a rental house that he inherited back in 2006. The property was included in probate @140k. TP set dep up to be 60% house 40% land. Now due to renters all but destroying house sold for 90 k. Now even after dep on house he has a loss on the house and a loss on the land. Looking at county assesments they have it broke down almost at the same %. Can I have 2 separate sales with the loss on the house getting used up this year and the loss on the land being carried several years due to the 3000 limit? Your take? Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted February 21, 2015 Report Share Posted February 21, 2015 No, it doesn't flow through Sch D. http://www.irs.gov/instructions/i4797/ch01.html#d0e343 1 Quote Link to comment Share on other sites More sharing options...
TAXMAN Posted February 21, 2015 Author Report Share Posted February 21, 2015 Thank you. I remember reading this but couldn't find it. Quote Link to comment Share on other sites More sharing options...
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