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Investors & landlords
Hello Overland0715,
Thanks for your prompt reply. So how differently did the CPA do this?
Was form 4797 prepared where Part1 line 2:
column d was the gross sales price (as expected)
column e was the total depreciation taken (as expected)
column f was the correct fair market value (and not the misleading value suggested by the original post to make TurboTax work)
column g was zero (eventhough if you do the math as specified in Publication 544 page 4 it was equating to a positive number but zero was used by following Publication 544 page 4 instructions)?
Waiting for your response.
Thanks.
May 4, 2021
1:35 PM