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Deductions & credits
Late to this discussion. The requirement is to file a form 1041 if Gross Income is $600 or more. This is in the 2021 instructions for form 1041. Based on that requirement I need to file a form 1041. All the income is from sale of furniture and the Net gain will be $0. I would feel like I am dotting the i's and crossing the t's if I could enter the gross sale amount for the furniture, the fair market value and the $0 net. There does not seem to be a way to do that on TurboTax business 2021. Where in IRS documentation does it say that I don't have to report sales that result in no gain?
thanks
‎April 7, 2022
6:06 PM