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rtkellen
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How do I report 50% ownership in sale of business property ( form 4797) ?

 
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Cindy0H
New Member

How do I report 50% ownership in sale of business property ( form 4797) ?

When you own only a 50% share in a business property, you should only enter 50% of all numbers in TurboTax for the sale: cost basis, sale price, selling expenses, recaptured depreciation (if applicable). You should not enter the full amounts.

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Cindy0H
New Member

How do I report 50% ownership in sale of business property ( form 4797) ?

When you own only a 50% share in a business property, you should only enter 50% of all numbers in TurboTax for the sale: cost basis, sale price, selling expenses, recaptured depreciation (if applicable). You should not enter the full amounts.

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