What is the entry that you would like to edit on IRS form 4797? Please clarify.
IRS form 4797, Sales of Business Property, is used to report:
- the sale or exchange of property,
- the involuntary conversion of property and capital assets,
- the disposition of noncapital assets,
- the disposition of capital assets not reported on Schedule D,
- the gain or loss for partners and S corporation shareholders from certain section 179 property dispositions by partnerships and S corporations,
These are some, but not all, of the transactions that may be recorded on the form.
One of these transactions has triggered the software to use IRS form 4797 which would require an upgrade to the Premium version of the software.
In TurboTax Online, you are able to remove the form by:
- Down the left side of the screen, click on Tax Tools.
- Click on Tools.
- Click on Delete a form.
- Find the form listed and click Delete to the right.
However, if the form re-generates, that means that there is an entry in the software that needs to be removed or changed.
If this is the case, return back to the point in the software where the questions that populate the form are asked.
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