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Business & farm
For folks in your situation there are a few "quirks" in TurboTax that flat out can not be accounted for with any amount of programming. So here's what to check.
If you sold the business at a gain (and you did) then you "MUST" show a taxable gain and each and every asset. Even if that gain on some assets is only $1 after deducting prior depreciation taken from the cost basis of that asset. (recaptured depreciation reduces the cost basis of the asset - not the sales price of the asset.)
If all of your assets but one shows a taxable gain, and that one shows a loss, the program just flat out can not deal with it correctly in some cases. You very well might be experiencing one of those "some" cases.
‎February 4, 2020
7:50 PM