topic form 4797 page 1 in Get your taxes done using TurboTax

form 4797 page 1

Paolooch — Fri, 06 Mar 2020 00:16:18 GMT

How do I delete the entries on page 1 of form 4797?

Thanks.

TH666

Re: form 4797 page 1

JamesG1 — Fri, 06 Mar 2020 01:07:53 GMT

IRS form 4797 reports sales of business property. Have you reported a sale of business property on a Schedule C, Schedule E or Schedule F?

If so, go back through the assets listed in these business activities and remove the sale information.

Also, look through lines 4 through the end of the page. I see a variety of Federal forms referred to within these lines.

Forms such as:

Installment sales,
Like-kind exchange,
Casualty and theft,
Partnership form 1065, K-1
Form 1120-S, K1.

Do you have any of these forms in your tax return? You would have to go to those forms to find out how to remove them from the IRS form 4797.

Re: form 4797 page 1

Paolooch — Fri, 06 Mar 2020 19:27:58 GMT

Thanks. I think I figured it out and, at least, got what appears to be correct results into my return. I will say this, though: I think TT did a very poor job with this aspect of the return, especially the part where, apparently, form 4797 page 1, via the 'go to forms' option, is apparently unalterable. Very confusing.

I'm not sure I could duplicate the steps I took to (seemingly) correctly address a sale of some section 179 property and the depreciation recapture.

But anyway, thanks. Now I'm in the middle of trying to find how to change my state tax refund option from snail mail to direct deposit. I'll address that in a separate question/discussion. It should not require that uch effort, but 'here I sit . . . . . .'

TH666