turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Sale of Business Property - Cannot delete entry

I have done no business property sales. However TurboTax indicates negative $1.

to remedy this I followed several discussions and deleted Form 4797.

The negative $1 is still on my "income".

When I revisit the category there are no check boxes next to any of the options (even though I've selected None of the Above several times.

How do I eliminate the  $-1.00?

 

Here's the page:

Screenshot 2024-03-05 at 2.10.41 PM.png

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

4 Replies

Sale of Business Property - Cannot delete entry

Ah - The state return questions include a capitol gains question -

 

My situation - A company distributed a profit (<$10) equivalent to a small percentage of one stock. The payout happened when the company acquired the one I had shares in.

 

If I understand correctly, the cost basis was higher when the original purchase happened so the profit was a slight loss, rounded to -$1.00.

MarilynG1
Expert Alumni

Sale of Business Property - Cannot delete entry

When you go to the Sale of Business Property topic, leave the top box checked and Continue.

 

Do you show a summary page with Copy 1?  If so, you can Edit/Delete the entry.

 

Here's more info on How to Edit Sale of Business Property.

 

 

 

@interactive3 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Sale of Business Property - Cannot delete entry

we have same problem.  

 

TT premier desktop.

Erroneously reported sale of business property.

click on business property "update"

screen "any other sales" click top box

Next screen should let us delete item but instead prompts for additional property

 

?

DianeW777
Expert Alumni

Sale of Business Property - Cannot delete entry

Please try the link below for your TurboTax return based on what you are using.  

 

You'll need to delete this form 4797 if you have not sales of business property. 

  • If you're using TurboTax Online software and need to delete a form, click here.
  • If you're using TurboTax Desktop software and need to delete a form, click here.

If you need more help, please provide more details about whether you have business property on your tax return and for what purpose.

 

@taxing_the_pour 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question