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Sale of Land


Patrick Michael

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Client sold residential real estate. It's my understanding that the land potion of the sale should be reported in Part 1 of form 4797 and the building portion of sale should be reported in Part 3. I can get the building to Part 3 but can not figure out how to get the land to flow to Part 1.

Sure it's probably something easy but can not figure it out.

Thanks for the help.

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