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New Member
posted Mar 12, 2021 9:17:46 PM

Where do I see the detail for "Sale of Business Property" on the income summary? I push the Edit button, click None of the Above, yet there's an amount listed.

The answer to How do I Edit says to search for "Sale of Business Property" and push the Jump To button, but there's no Jump To.

0 5 540
5 Replies
Expert Alumni
Mar 13, 2021 7:10:55 AM

Since there is not many options for detailing how you arrived at your basis, it is a good idea to keep notes regarding how you calculated it.

 

Where to enter/edit Sale of Business Property

 

  • Income and Expense
  • Sale of Business Property
  • Select Sales of Business or Rental Property that you haven't already reported
  • Choose No to the question, "Do all of the following apply to the property you sold?".
  • Choose Yes to the following screen that asks, "Do any of the following descriptions apply to the items you sold?".
  • Select the type of property from the drop down box.
  • Enter the information for your sale.

New Member
Mar 14, 2021 4:29:12 PM

I don't want to know how to enter it.  An amount is appearing on my Income summary page, and I don't know how it got there.  I push "Edit" and then it goes into the questions, no indication of an existing property.

New Member
Mar 16, 2022 11:57:11 AM

I have the same problem.,  No way to edit the information.,

 

I have a numer entered but no detail or way to edit

New Member
Mar 16, 2022 11:58:24 AM

I have the same problem as Paul.  No way to edit the information for sale of business property that has already been entered.  No detail is given when you select the edit button on sale of business property

Expert Alumni
Mar 16, 2022 2:31:53 PM

To edit the sale of business property entries, you need to go to the business income and expenses section and update the business assets. If the property is associated with a rental property, go to the rental income and expenses section in TurboTax, and work through that section until you see the Assets/Depreciation section. Update that section and go to the asset summary. Edit the property that was sold and work through that section and you will see the property sale entries.