Cannot edit or delete entry in sale of business property

[jmaher31]

Hi,

I have tried this in both online and desktop version. I need to edit the numbers entered in sales of business property, but I cannot find any way to do this. I cannot delete the entry either.

I followed the instructions listed here , but it does not allow me to delete the original entry. I can add a new entry and delete before I select done, but there is no way to edit the original entry which is what I need to do. Alternative would be to directly edit form 4797, but that is not editable either.

[MaryK4]

Try to delete the 4797.  

Windows instructions

1. Open or continue your return.
2. Switch to Forms Mode by selecting the Forms icon.
3. From the menu, select the form you want to remove.
4. After the form is generated in the right pane, select the Delete Form button.
5. Follow any onscreen instructions to remove the form or forms.

Mac instructions

1. Open or continue your return.
2. Switch to Forms Mode by selecting the Forms icon.
3. From the menu, select the form you want to remove (if you don't see it, select Open Form at the top).
4. From the Forms menu, select Remove [form name].
5. Follow any onscreen instructions to remove the form or forms.

[jmaher31]

Thank you for you response. I've tried that already. It doesn't work. I can select the form and click remove, but the for remains. There is another post on this behavior ...

https://ttlc.intuit.com/community/taxes/discussion/how-do-i-delete-form-4797-it-seems-to-be-sticky-a...

[KrisD15]

Can you clarify if you reported a sale of a business asset? 
If yes, what type? Business or rental?

What do you need to adjust? 

[jmaher31]

I reported the sale of a business - a rental property.  I need to change the total sales price and the cost

[KrisD15]

Did you report the sale in the Rental section or as sale of business asset ?

HERE are the steps to report a sale of a rental. 

If this was something different, please continue the question.

Enter all the 2024 income and expenses for that rental first
Go to the "Property Profile" section, and select "I sold this rental in 2024" on the “Do Any Of These Situations Apply To This Property?" screen.
Continue through that interview but do not leave the Rental Section
Scroll down to Sale of Property/ Depreciation
(if you don't see Sale of Property/ Depreciation you didn't select "I sold this rental in 2024")
Yes, I want to go to my asset summary 
Select EDIT for the property
Continue through this interview and on the "Tell Us More About This Rental Asset" be sure to select ALL- 
I purchased this asset (if appropriate)
The item was sold
Yes or No to 100% use
Continue through the interview and report the sale
Allocate the sale proceeds to the property and the land, as well as any additional assets listed for that rental

Sale proceeds over cost will be capital gain (capital gain tax rate)
DEPRECIATION RECAPTURE will be Ordinary Income (your tax rate)
 

[jmaher31]

It was reported under sales of business assets and I need to edit that entry. I was not reported under the rental section. If I proceed to report it under the rental section I still need to delete the asset from sale of business assets. 

[JamesG1]

In TurboTax Premium Online, access the sale of business property by following these steps:

• Down the left side of the screen, click Federal.
• Down the left side of the screen, click Wages & Income.
• Click the down arrow to the right of Other Business Situations.
• Click to the right of Sale of Business Property.

@jmaher31 

[jmaher31]

Perhaps some pictures will help ...

I have this entry under sale of business assets that I cannot edit or delete.

Clicking on Update only allows me to ADD additional business assets sales

Going to forms (Premier Edition) and selecting remove on file 4797 DOES NOT WORK.  The form remains after selecting Remove

[KrisD15]

Once on the screen you show, "Any Other Property Sales?" select "SALES of business or rental property that you haven't already reported" to open that section up. 

Continue

The next screen should show Copy 1

Select EDIT

The sale should be listed on the screen which follows

Select delete for the sale you wish to remove or Edit to edit