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posted Feb 17, 2024 2:18:25 PM

Partial land disposition entry in Turbo Tax

I’m am trying to figure out how I can record a partial sale of land off a ranch.  Right now the property is listed in TT as one asset and I can’t figure out how to dispose/sell just a small portion of the overall.  Any help on where I can record this and still leave the remaining property in the system for the balance sheet purposes would be so appreciated!  Thank you in advance for any help!

 

Jamie

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1 Replies
Level 15
Feb 17, 2024 5:36:26 PM

Split your current "asset" into two pieces (the percentage/part that was sold, and the percentage/part that you kept) and then delete the original 'full' asset.

 

Then go into the one part of the asset and indicate it was sold.