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Business & farm
@Anonymous_ does the TT Business software allow for making an M-1?
While it may not adjust as noted in my prior response, can a preparer just go directly into the M-1 section and include an amount on line 4 of the M-1 section?
If that is possible, then the OP will just need to do the reverse once the house is sold.
While it may not agree to the actual books and records, it arrives at the correct tax result.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
May 25, 2022
9:58 AM