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Investors & landlords
@taxquestions44 TT is doing very little to make this simple. In this case, the $4341is the same as the "Ordinary Form 4797 Income" on your screen shot below. Note that the text on that line mentions "included above". So you also add that $4341 to the amount you're putting into the "Ordinary business income (loss)" line. Typically, the amount reported on line 20Z is what goes there, so you'd add the 2 together.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
‎April 2, 2023
4:15 PM