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jonespljz
New Member

Should There be a dollar amount in the income area of Sale Of Business Property when I had no sale of such?

When I look at Income and expenses on my Turbo tax return it lists $4212.00 as a Sale of Business Property and I had no sale what do I do?
3 Replies
Cynthiad66
Expert Alumni

Should There be a dollar amount in the income area of Sale Of Business Property when I had no sale of such?

You can delete the item:  Here are the instructions:

 

To delete an income item

  • Click on Federal in the left column
  • Click on Wages & Income at the top if you don’t see Great! We’ve got your income info
  • Edit/Add next to the type of income you want to delete
  • Click on the trash can next to the income item
mCiac1963
New Member

Should There be a dollar amount in the income area of Sale Of Business Property when I had no sale of such?

it will not let me edit or put in trash bin the dollar amount in Sale of Business Property.  I did not sell my cellphone.  That dollar amount should be zero

 

Carl
Level 15

Should There be a dollar amount in the income area of Sale Of Business Property when I had no sale of such?

Work back through the Business Assets section again. I suspect you removed the cellphone from the business for whatever reason. Then instead of indicating you removed the phone for personal use, you indicated you sold it.

There may have been a screen asking you "Special Handling Required?". If you selected NO on that screen, then you told the program you sold the asset. If you did not sell the asset, yet it is no longer a business asset for whatever reason (removed for personal use, stolen, destroyed, etc.) then you must select YES on that screen. If you select NO, then you are *forced* to enter a sales price for the asset.

 

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