4797 override

9 replies
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I have to override entries on page2 of form 4797. I don't know where the figures are coming from but it's like there were 2 rental properties sold but it was one.

Critter-3Answer

Level 15

Switch to the FORMS mode ... go to the 4797 and click on the amount that needs to go to data search the entry point so it can be deleted if you cannot figure out how to remove it in the interview.

Anonymous_

Level 15

@Mike9241

Critter-3

Level 15

Ok ... this is a user error ... the sale should be entered only ONCE. If you are still using the Sch E for the rental income then you will ONLY report the assets sold in that section. Go back to the Business assets sold section and remove the duplicate entry.

Mike9241

Level 15

in Turbotax each asset for the rental property is reported separately. either that or you've made some incorrect entries. we can not see what you have entered. you need to contact support. overrides will prevent e-filing.

Mike9241

NCperson

Level 15

@kcampion - you don't want to override - that could risk being able to efile and certainly invalidates the TT guarentee.

Carl

Level 11

This happens when you report the sale twice. Most likely, you reported the sale in the "Sale of Business Property" section, and the SCH E section of the program.You only report the sale once. Therefore, one of your sale entries needs to be deleted.

kcampionAuthor

Level 2

Thanks to all, but I should have stated that the only reason I'm using an override, is because I can't delete the information on pg 2 of Form 4797. That's what I need help with.

I'm amending my return because when I filed originally it did show 2 properties, one with a gain, one with a loss, total being a loss. The sale was a gain so we owe IRS over $5,000, and over $2,000. to state. Will we be racking up penalties & interest with the backlog of mailed returns taking 6-8 months? Maryland reported the error to us.

Critter-3Answer

Level 15

Switch to the FORMS mode ... go to the 4797 and click on the amount that needs to go to data search the entry point so it can be deleted if you cannot figure out how to remove it in the interview.