Business & farm

@briandsmith

No, if you delete Form 4797 without deleting the source sale info, the form will be added back automatically.

Instead, go to the sale where you need to enter a different Cost Basis (Form 4797 Line 21).

1. If this is a Rental Property, return to your Rental Property Summary page.
2. Click Edit beside the property that was sold.
3. Scroll down to Sale of Property/Depreciation and click Update.
4. Go to your Asset Summary page.
5. Click Edit beside the asset you sold.
6. Follow the prompts to the page "Tell Us About This Rental Asset.".
7. Update the Cost or Cost of Land as necessary.
8. Continue to the Sales Information page.
9. Update the Sales Price or Expenses, if necessary.
10. Continue to the Results page and confirm the gain or loss is what you expected.
11. Continue to your Rental Summary page for this Rental Property.

If this was for a different type of asset, you can follow a similar sequence to change the cost basis for a business asset or vehicle that was sold.