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Old 03-11-2016, 03:07 PM
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Confusion with 4797, Sale of rental & how to handle improvements

I am finding conflicting info on how to fill out form 4797 after the sale of my rental property. Here is the basic info:
Bought house in 1998 for $62K, converted to rental in 2002.
Several improvements over the years:
Foundation - $21000
Roof - 3000
New range - 500
Flooring - 3000
HVAC - 3000
Sold the house in 2015 for 114,000 + we made 12K in improvements just prior to sale. I think I've got a good handle on depreciation recapture.

When filling out form 4797. I put the land portion of the sale in part 1 and the house in part 3. My confusion starts with whether I am making ONE entry in part 3 with a basis that includes my improvements or if I am expected to make several entries in part 3 for EACH item I've been depreciating.

Thank you for the assistance.



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