grandmabee Posted March 12, 2020 Report Share Posted March 12, 2020 I am doing a sale of rental and I know the land part of the sale goes on line 2 part 1 of 4797 even with the 6252. for the life of me I can't get the program to put it there. keeps dumping in line 4 part 1 of 4797. what am I missing on the input of the sale. I am doing it thru the fixed asset schedule. any help would be appreciated. I have been working on this for hours or at least it seems that way. Quote Link to comment Share on other sites More sharing options...
WITAXLADY Posted March 12, 2020 Report Share Posted March 12, 2020 ya know - I find the 4797 has a mind of its own this year - many assets are not going correctly - I sort of think someone rewrote their own computer tax laws... 2 1 Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted March 12, 2020 Report Share Posted March 12, 2020 If the gain(loss) is right, I don't worry about it. 1 Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted March 12, 2020 Report Share Posted March 12, 2020 11 hours ago, grandmabee said: I am doing a sale of rental and I know the land part of the sale goes on line 2 part 1 of 4797 even with the 6252. for the life of me I can't get the program to put it there. keeps dumping in line 4 part 1 of 4797. what am I missing on the input of the sale. I am doing it thru the fixed asset schedule. any help would be appreciated. I have been working on this for hours or at least it seems that way. Maybe you're wrong and it belongs on line 4. Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted March 12, 2020 Report Share Posted March 12, 2020 Did the sale (gain) qualify the TP for QBI? Quote Link to comment Share on other sites More sharing options...
Terry D EA Posted March 12, 2020 Report Share Posted March 12, 2020 I think you maybe incorrect at where you are placing the land transaction. Check out the pub below to see if this helps any at all. What I read is items in section 4 are items depreciable or recapture of depreciation. Land is not depreciable. https://www.irs.gov/pub/irs-pdf/i4797.pdf 1 Quote Link to comment Share on other sites More sharing options...
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