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Investors & landlords
Thank you for the token. Here are the steps I used to remove the 4797 from your file.
I noticed you said that it was not rented all year under the Property Profile. Change that answer to 'Yes' because it was rented until you removed it from service and at fair rental price. TurboTax knows how to handle that with the removal date in each asset.
- Go 'Asset/Depreciation' then select each asset to change your answers. First say 'Yes' to 'Did You Stop Using This Asset in 2022?' so that you can remove your dates (delete each date field, Date of Disposition and Acquired Date). Also say 'No' to Special Handling'
- Next go back to say 'No' and continue until you are back to the list of assets - do this for each asset
- I tend to Review your return after each action.
- Now go back to each asset and do the reverse except do NOT enter the 'Acquired Date' on any asset. TurboTax knows the answer to that. Enter ONLY the 'Date of Disposition'.
- Review your return to see the 4797 is removed. The rental income is there on Schedule E and Schedule 1, but the 4797 is now removed.
Please let me know if that works for you.

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‎February 17, 2023
8:15 AM