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Level 3
posted Mar 15, 2020 7:49:30 AM

How do I find Form 4797 Part III Lines 19 -24 to input Gain From Disposition of Property in TT Business?

How do I find Form 4797 Part III Lines 19 -24 to input Gain From Disposition of Property in TT Business download version?

0 5 2008
5 Replies
Expert Alumni
Mar 15, 2020 9:50:50 AM

For a Partnership you would report the disposition in the Dispose of Business Property section in order to populate the Form 4797.

 

Or you can create a Form 4797 in the Forms section.

 

 

Level 3
Mar 15, 2020 9:56:40 AM

I appreciate your response. 

 

However, Form 4797 is not showing up in my tax return.  In the Forms section, TT only shows Form 4797 Parts I & II. 

 

How do create Form 4797 Part III Lines 19 -24? 

 

Thank you.

Expert Alumni
Mar 19, 2020 7:22:24 PM

Part three of form 4797 is for section 1245, 1250, 1252, 1254  and 1255 property sales.  You can see the following for information on how to enter those sales:

 

 

This screen shot is from the top of form 4797 entry worksheet in TurboTax.

Level 3
Mar 24, 2020 10:55:53 AM

I appreciate your response.

 

How do I access the 4797 entry worksheet which you have shown on your screenshot?

 

Thank you.

Expert Alumni
Mar 24, 2020 1:35:22 PM

In the forms mode, pull up form 4797 p1. On the top of the screen you will see a "QuickZoom" option to go to form 4797, part III as follows: