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Investors & landlords
suggestion-
File form 4868 request extension of time to figure this out.
you still have to pay tax due now.
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-- if the ordinary income amount is shown on Schedule B Form 4797 Part II Line 10,then enter cost as needed to reduce the gain on Form 8949 with no adjustment
If it's not there, enter it manually
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you need a code for Col F if you want an adjustment in Col G
do you know what code you need?
TurboTax won't allow all the codes, Code B is a special case.
you have to go through step-by-step to find "more info" or "special Cases"
that allow you to do this
Code "O" Other would be a choice, but I'm not sure TurboTax allows that one.
‎April 13, 2024
3:41 PM