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Sale of Real Estate in an LLC, TT Business

I sold my building in an LLC in 8/2024.  I told TT business in the Business Info section:  final return for the LLC, short year, sold the property during the year.

 

In the Rental Real Estate Dispositions (under Federal Taxes), I want to input the sales price.  Under the Disposal Summary, when I hit Edit, it asks "Did  you dispose of any assets in 2024?" When I press, Yes ...nothing happens. It just stays there.

 

When I was going back and forth with this, I think at one point it brought up my depreciation schedule but I can't seem to get it back. Any ideas what might be wrong?

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4 Replies

Sale of Real Estate in an LLC, TT Business

I forgot to say this was for the 1065 partnership return.

PatriciaV
Employee Tax Expert

Sale of Real Estate in an LLC, TT Business

Please clarify if you had already reported this building on a prior year return. Do you have other assets for this rental activity?

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Sale of Real Estate in an LLC, TT Business

Yes, the building was depreciated on prior year's returns.  There are other depreciated assets on prior and current return.

PatriciaV
Employee Tax Expert

Sale of Real Estate in an LLC, TT Business

Please see the request for a diagnostic copy of your business return in your related post: Re: 1065 Sale of Building TT Business.

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