You know since you have the downloaded program you have the ability to run What If/ Test scenarios and review how the loss is handled on the Sch E and the sale on the form 4797. You will also get an idea of what the tax liability will be like so you can make an estimated payment if needed.
If you want to play around
with different figures and tax scenarios without affecting your original return
you can
In the TurboTax CD/Download software by creating a test copy:
1. Open your return
in TurboTax.
2. From the File
menu, choose Save As.
3. Give the copy a
new name to distinguish it from the original (for example, by adding
"Test" or "Example" to the file name).
4. Click Save.
You are now safely working in the test copy and anything you do here will not
affect the original.
https://ttlc.intuit.com/questions/1900642-how-to-make-a-test-copy-of-your-return
Or use the WHAT IF tool:
- Click Forms Icon (upper
right of screen) or Ctrl 2 (forms view)
- Click on the Open Form
Icon
- In the “Type a form name.” area
type What-If (with the dash), click on the name of the worksheet - click on
Open Form
- You will see the
worksheet on the right side of the screen; enter the information right into the
form
- To get back to interview
mode - click on the Step-by-Step Icon (upper right of screen) or Ctrl 1
https://ttlc.intuit.com/replies/3388350
