Am in Home and Business. I incorrectly entered an amount in Sale of Budtiness Property and now I cant go back in and remove it. How do I?

[er1300]

I need to remove an entry in Sale of Business Property.

[CherylW]

1.  Click Federal Taxes across the top.

2.  Click Wages & Income across the top.

3.  Click I’ll choose what I work on.

4.  Scroll down to Business Items.

5.  Click Start or Update by Sale of Business Property.

[er1300]

It still will not let me delete

[CherylW]

You may have an entry in Schedule C or E.

To check if it's in your Schedule C:

1.  Click Federal Taxes across the top.

2.  Click Wages & Income across the top.

3.  Click I’ll choose what I work on.

4.  Scroll down to Business Items.

5.  Click Start or Update by Business Income and Expenses (Sch C).

Click Edit by your business.  On the next page, scroll down to Assets being Depreciated, and see if there's anything related to the sale there.  To check on Schedule E:

1.  Click Federal Taxes across the top.

2.  Click Wages & Income across the top.

3.  Click I’ll choose what I work on.

4.  Scroll down to Rental Properties and Royalties.

5.  Click Start or Update by Rental Properties and Royalties (Sch E).

When you're in the interview, click Start or Update by Sale of Property/Depreciation.

Delete any wrong or duplicated entry.

[er1300]

It is in Form 4797.  I have tried to override and it temporarily lets me do that but seconds later it re-inserts the bad entries.  I would like to just delete the entire form 4797. How can I do that?

[CherylW]

if you have information on the form, you can't just delete it.  Try going back to the input screen where it's coming from.  It'll say on the 4797 where it's coming from, and then go back to the source.

[er1300]

The source is an accounts receivable loss that I entered in the section entitled Sale of Business Property.  But now I cant remove it.

[CherylW]

You'll have to go back into Sale of Business Property and delete it.  If you can't, try at least to zero out the amounts.