what seems unusual is that the land was sold at less than cost but the building was sold for more than cost.
That's one of the things that the program just flat out can't handle correctly, and it doesn't generate any error or error codes either.
Another thing that definitely results in an incorrect 4797/SCH D is if you have multiple assets listed. Let's say the cost basis on all assets totals to $150,000 after subtracting depreciation. But the cost basis after depreciation on the property itself is $100,000. You sell it for $125,000. In total, that's a $25K loss.
You report the $125K sale price on the property only, with a $0 sales price on all other assets. That shows a gain on the property, with a loss on all the other assets. The program can't handle that. But if you add to that showing a gain on the land and a loss on the structure (or vice-versa) that "really" tends to screw things up.
From playing around with this using C++ (I think TTX uses java) the programming is a nightmare that bloats the program well beyond obesity. It also makes your head hurt. 🙂
