Filled out the TT info for rental property I sold, the numbers seem to line up properly. However, there is no place for me to enter my 1099-S for the gross proceeds, so that figure is left blank for Line 1A of the Form 4797 (which asks for the 1099-S gross proceeds amount.
Is that okay? Is it worth overriding it or will that confuse things for IRS?
Thanks,
Adam
You'll need to sign in or create an account to connect with an expert.
Thank you. Sorry I missed it on other posting. Still, why does Form 4797 ask for it in line 1a if wont get it? Very strange and inconsistent. But the land and asset add up to the 1099s so going to assume the irs computers will be happy.
@psyadam wrote:Still, why does Form 4797 ask for it in line 1a if wont get it?
You are right, line 1a should show the amount. If the program does not enter that (or allow you to enter that), it seems like a defect in the program.
@AmeliesUncle wrote:You are right, line 1a should show the amount. If the program does not enter that (or allow you to enter that), it seems like a defect in the program.
This is very strange, @AmeliesUncle and @psyadam. I have quite a few test returns and a total of none show a figure on Line 1a.
The strange part is that you can enter a figure on Line 1a in Forms Mode (with the desktop program).
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
snpinlenexa53
New Member
wingchang
New Member
user17727371258
New Member
muranakamy
New Member
vernonshurley
New Member