Form 4797 Parts I and II

[jeffreysak]

I need to report a Section 1231 loss on the sale of business property, yet TurboTax Premier is saying I can only report a gain on the sale of business property.  When I drill down to Form 4797, it will not show Page 1 with Parts I and II and instead starts on Page 2 with Part III.  How do I access Page 1 to report the loss in Parts I and II of Form 4797?

[Mike9241]

maybe a Turbotax issue but is there a gain showing up in Part III?  if so, are the amounts on lines 20 through 22 correct.  if not, you enter something incorrectly. did you take 179 on the item and if so was the disposition before the full MACRS life has passed (the asset would have been fully depreciated even if 179 not taken)?

[jeffreysak]

This screen seems to be the problem.  I don't understand why the property must be sold for a profit.  What screen is used for entering business property sold at a loss?

[vegas_man]

Wow, years later and this is still unresolved for MTM traders.