cientax Posted June 12, 2009 Report Share Posted June 12, 2009 Client abandonded restaurant equipment and was reported on Form 4797 as loss. Is this a business capital loss or is it ordinary business loss. ?Trying to determine for the NOL worksheet. Thanks Quote Link to comment Share on other sites More sharing options...
TAXBILLY Posted June 12, 2009 Report Share Posted June 12, 2009 Not familiar with the term ordinary business loss. taxbilly Quote Link to comment Share on other sites More sharing options...
cientax Posted June 12, 2009 Author Report Share Posted June 12, 2009 Maybe I should rewrite the question. For puorposes of the NOL worksheet, would the loss from the 4797 be carried on line 11 of the NOL worksheet that asks for "business capital losses"? Thanks Quote Link to comment Share on other sites More sharing options...
RoyDaleOne Posted June 12, 2009 Report Share Posted June 12, 2009 It is a "business ordinary loss." Quote Link to comment Share on other sites More sharing options...
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