- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Sale of Business Section 1231 Gain
Sold our restaurant in 2020
Sales Price 80000
K1 Shows the following
Box 1 (17,499)
Box 9 52,113
Box 15A (416)
Box 15B (1,211)
Total Income when I review is $129,710 (Which includes the capital gain of 52,113)
When I run the error check - it asks for Sale Price, Basis & depreciation from 4797
When I put these amounts in it doubles my income for the capital gain and shows that I owe alot of money
Please help
Topics:
‎April 15, 2021
7:50 AM