Re: FYI: CapGains Tax Planning Tip
I had to dig into my old tax returns to find this...I sold a rental property in 2003.
The sale of a rental is reported on Form 4797, Sales of Business Property. After all, you're in the business of renting out your real estate to make money.
Once you figure the gain on the sale, it's carried over to Schedule D and reported as a capital gain along with your sales of securities, etc. Schedule E is for reporting income from rentals as you operate them, not when you sell them.
So I would think that lazygood4nothinbum does have a good plan to time the sale of the rental to 2010...Nords you threw me at first because I was thinking, oh that's right I did report the sale of my rental on some other form. But in the end it's treated like a capital gain just like those from stock sales.