Hello,
I followed turbotax instructions to record the sale of a rental property under Rental and Royal Properties section. When I open the form 4797, this is what I see it there.
Part 1 is showing just the Land cost basis and selling price.
Sorry, I am not so much good with calculations, and I appreciate your feedback/suggestions.
Question - 1.) Does this looks fine to you?
2) For some reason, these calculation seems to screw up the tax return for Maryland. Turboxtax is showing a full refund for all the Maryland taxes we paid for the year ($12K Refund)......
