Capital gain or loss from sale of business property would be reported on TurboTax Premium Online.
In TurboTax Premium Online, Sale of Business Property may be found:
- Down the left side of the screen, click Federal.
- Down the left side of the screen, click Wages & Income.
- Click to the right of Other Business Situations.
- Click to the right of Sale of Business Property.
An IRS Form 4797 may be created from:
- The Business Asset Summary under a Self-employment income and expenses, or
- Your Property Assets under a Rental properties and royalties,
Go to those summaries and report the business asset as sold, retired, disposed of, etc.
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