Tracy Lee Posted April 3, 2019 Report Share Posted April 3, 2019 Just clarifying for this very tired brain......Commercial rental property (buildings) is 1245 property and the land is 1250? Or am I backwards? Quote Link to comment Share on other sites More sharing options...
BHoffman Posted April 3, 2019 Report Share Posted April 3, 2019 Building and land are both 1250. 4 Quote Link to comment Share on other sites More sharing options...
Tracy Lee Posted April 3, 2019 Author Report Share Posted April 3, 2019 So in my bulk sell I can put them all together? I was told earlier that in ATX I had to separate them Quote Link to comment Share on other sites More sharing options...
BHoffman Posted April 3, 2019 Report Share Posted April 3, 2019 I don’t use ATX so cant help you there Quote Link to comment Share on other sites More sharing options...
jklcpa Posted April 3, 2019 Report Share Posted April 3, 2019 20 minutes ago, Tracy Lee said: So in my bulk sell I can put them all together? I was told earlier that in ATX I had to separate them They're both sec 1250 property, but you have to separate them because the building is depreciable property and the land is not. 4 Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted April 3, 2019 Report Share Posted April 3, 2019 1 hour ago, BHoffman said: I don’t use ATX so cant help you there It doesn't matter what software you use, land and buildings go in different places on the 4797. 2 Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted April 4, 2019 Report Share Posted April 4, 2019 Land goes on part 1. 1 Quote Link to comment Share on other sites More sharing options...
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