JamesG1
Expert Alumni

Deductions & credits

An IRS Form 4797 sale of business property can originate in several places.  You need to return where the 'sale' was generated and delete the entry.  The hard part is finding where the entry originated.

 

TIP:  If the button to the right of these pathways say Start, you probably have not been there so do not bother going there.  The button will likely say Edit/Add or Revisit.

 

Review Federal / Wages & Income / Your income / Other Business Situations / Sale of Business Property.

 

Rental property may have been reported sold through the Your property assets summary.  Review Federal / Wages & Income / Your income / Rentals, Royalties, and Farm / Rental Properties and Royalties (Sch E).

 

Business property may have been reported sold through the self-employment Business asset summary.  Review Federal / Wages & Income / Your income / Self-Employment / Self-employment income and expenses.

 

These are the likely sources of the entry.

 

@newenglandsenior
 

 


 

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