1065 Sale of Building TT Business

[DeborahA]

I sold my building in an LLC (1065). In TT Business, when I answer the question

Did you Dispose of any assets in 2024?

I press Yes,  then Continue...Nothing happens, the Continue button remains outlined in yellow and does not move forward.

Anyone else have this problem?

Is this a bug in the program?

[PatriciaV]

Have you saved your return, closed TurboTax, and reopened (including accepting updates)?

As a review: the business property/asset disposal topic appears under Federal Taxes >> Income, or under Rental Real Estate / Farming if one of those applies.

When you answer "yes" and continue from the question "Did you dispose of any assets in 20XX?" you should see a list of business assets that have been entered in your return. If this is a new asset, you'll need to add it before you can report the disposal.

[DeborahA]

I saved the return, closed TT and reopened, although no updates happened in recent days.

When I answer Yes, (Did you dispose of any assets?)the Continue button is outlined in yellow, but nothing happens...It is stuck and does not bring up the list of fixed assets that were depreciated in prior years nor the new assets I added in 2024.

I told TT this was a final return, with a shortened year, and I marked that the building was sold in an earlier screen.

[PatriciaV]

We have tested adding Assets in TurboTax Business but are unable to reproduce the experience you have seen. It would be helpful to have a TurboTax ".tax2024" file to test this issue further.

If you would be willing to send us a “diagnostic” file that has your “numbers” but not your personal information, please follow these instructions: 

In TurboTax Desktop, open your return and go to Online in the TurboTax header. (On a Mac computer, choose Share or Help.)

1. Choose Send Tax File to Agent.
2. You will see a message explaining what the diagnostic copy is.  Click Send on this screen and wait for the Token number to appear.
3. Reply to this thread with your Token number (including the dash) and tag (@) the Expert requesting the token from you.
4. You may wish to snap a screenshot to post instead of the actual number.
5. Please include any States that are part of your return - this is VERY important.

We will then be able to see the same experience you are having. If we are able to determine the cause, we'll reply here and provide you with a resolution. 

[DeborahA]

The token # is 641744890-36854797.

I will be filing In New York State and City.

@PatriciaV 

Just to clarify, the issue is that the fixed assets do no appear when asked about dispositions.

Thanks for all your help.

[PatriciaV]

Please post a screenshot of the token. The Community filters see the dash as part of a SSN and delete the first part. 

Here's an example:

@DeborahA 

[DeborahA]

The post above now shows the full Token #

I will repeat it here with no dash

641744890 36854797

Thanks again for your help.

@PatriciaV 

[DeborahA]

Wow, the first digits got blocked again. Here's the first set  of numbers.

641744890

If this gets blocked, please see above reply...it seems to show the full #

@PatriciaV 

[PatriciaV]

Thanks for your efforts to post the complete token number. We'll take a look and reply here if we identify a resolution for you.

@DeborahA 

[PatriciaV]

This experience has been forwarded to our development team for further investigation. In the meantime, you might try transferring your prior year return into TurboTax Business again to see if your assets are displayed and can be edited.

@DeborahA 

[DeborahA]

I previously deleted the 2024 TT file and started  a new file with the same results. 

In the next few days, I'll try it again with special emphasis on seeing if assets can be edited.

Thanks for all your help.

[DeborahA]

I reloaded the 2023 fixed assets and depreciation into TT 2024, I left off the 2024 fixed asset to see if that did anything.  I was able to edit these 2023 assets, edit /delete.

Unfortunately, the problem still exists. 

Did you Dispose of any assets in 2024?  " Yes" 

Continue button when pressed results in it being outline in Yellow but nothing happens.  Just frozen.

[AnnetteB6]

Take a look at the following TurboTax article for a link to register your email address to receive updates as this situation is corrected:

Why can’t I continue on my Dispose Of Rental Real Estate Property screen?

@DeborahA