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Investors & landlords
I think Critter-3 was simply allocating a $10,000 cost of sale (sales commissions, perhaps?) across the three items based upon the original cost basis.
IRS Form 4797 Sales of Business Property will include costs of sale:
- In column (f) for property reported in Part I and Part II, and
- On line 21 for property reported in Part III.
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March 29, 2022
3:50 PM
2,231 Views