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Deductions & credits
It is very common to report the land and the improvement on two separate entries on IRS form 4797.
It is also common to report depreciation recapture for 1250 and 1245 property on IRS form 4797.
I have the same concerns as were expressed on the other thread (the thread listed above) that IRS form 4797 reporting may not be appropriate and that may be the source of the problem.
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March 26, 2020
5:32 PM