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posted Sep 20, 2022 10:10:18 PM

Can TurboTax Self-Employed 2021 handle factoring abandonment loss into ordinary business income? Can I specify this on form 8949?

This case meets the three prong test! Looking to know whether or not turbotax can the deduction, not whether I can take the deduction!

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1 Best answer
Level 15
Sep 21, 2022 6:27:53 AM

The disposition of property used in a trade or business is typically entered on Form 4797.

1 Replies
Level 15
Sep 21, 2022 6:27:53 AM

The disposition of property used in a trade or business is typically entered on Form 4797.