Partnership rental house sale at loss

If this was a partnership then I expect you filed an IRS Form 1065 Partnership return each year, and each partner received a K-1 each year for their personal tax return.

If so, you'll report the sale on the 1065 Partnership return where all prior depreciation will be recaptured

purchase price (2012) was $300K, sold price (2019) at $250K

So more than likely after the depreciation recapture, you have a taxable gain. But gain or loss, it will be on the K-1 each partner gets. THe gain if any, or the loss if any will be dealt with on the personal tax return by the program, after each partner enter's their K-1 data.

we only got the HUD information from Title company

The HUD-1 form is all you need really.

When you purchased the property you used the HUD-1 form to initially enter and set up the rental. Now with the HUD-1 you got from the sale, you'll use that to report the sale. The sale will be reported on the 1065 Partnership return - not your personal 1040 tax return.

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@leekwok wrote:

Should it be in Dispose of Rental Real Estate Property?

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Yes, Rental real estate dispositions (click Update or Start to the right) under Rental Real Estate Income.

I sold a rental house and I have a partner.  How do I report the  sale so I do not have to be responsible for all the earnings affecting my return negatable?