JamesG1
Expert Alumni

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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