In the sale of a rental Turbotax is placing a home asset in Part I of form 4797 along with land. All other assets are in Part III. Why is this asset being put with land?

[rpj1153]

The asset in question is a deck expansion done 14 months before the sale.

[TerryA · Accepted solution]

It depends on what Type of property it is and whether it was a gain or loss. The Type is determined by how you entered it on the Asset Entry Wks.

See the chart of where to report the sale of business property on page 1 of the Form 4797 instructions:

https://www.irs.gov/pub/irs-pdf/i4797.pdf