Why does your form 4797 for 2017 state the date sold under c has to be the current year?

Forum|Forum|7 years ago
June 6, 2019
10 replies
32 views

The property was sold 11/24/04 but TurboTax will not take that date, why.

TurboTax Premier Windows

Best answer by Critter

I agree ... redo the 6252 section ... if it is done correctly the sale will only show on the form 4797 on line 4 which does not require a date ... do NOT enter the sale directly on the form 4797 entry section for a sale that did not happen in 2017.

Type in "installment sales" or "form 6252", then click the topic in the list that applies to the transaction you need to enter. This will take you directly to the start of this topic.

Carl

Level 11

The 2017 tax return is only for reporting financial matters that occurred in 2017. If property was sold in 2004, then it should have been reported on the 2004 return, 13 years ago.

Critter

Level 15

Are you reporting an installment sale ?

crapyAuthor

Level 2

Yes, Carl, I know that AND you are wrong concerning your first statement, especially if the sale was an installment sale (land contract), which you only report the income & depreciation received each year after the date sold. The same forms 4797 & 6252 have been filed each year since 2005 and has accepted the date sold. TurboTax has a glich in the form. You really shouldn't make comments about things you know nothing about. But you are learning.

crapyAuthor

Level 2

Yes it is an installment sale

Critter

Level 15

Contact TurboTax support and speak directly with a TurboTax support agent concerning this situation.
See this TurboTax support FAQ for a contact link and hours of operation -<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number">https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number</a>

crapyAuthor

Level 2

Thank you for the site, Critter

crapyAuthor

Level 2

Wish it would have worked!!!!!!

TaxGuyBill

Level 13

I'm wondering if you are entering it wrong. For a prior year Installment Sale, the sale date would not show up on Form 4797. The amount from Form 6252 should flow to Line 4 (and/or 15) of Form 4797, and not show up anywhere else.

CritterAnswer

Level 15

Type in "installment sales" or "form 6252", then click the topic in the list that applies to the transaction you need to enter. This will take you directly to the start of this topic.

crapyAuthor

Level 2

Thank you Critter#2 - That is exactly what I do but the 4797 is auto generated from the 6252. This problem only comes up in the final check TurboTax does after everything is entered. I have looked at both forms from last year & the gain is only on line 4 & 7. So I am going to go back & check the actual form 4797 for this year & see what is on it. It is still very frustrating that I pay extra for this Premier edition and they still have glitches every year with one thing or another. I also must file an 8606 for my husband every year and will have to start for me when I start drawing from my retirement plan. That is also another form that is not common, but it does happen to some people. Have a great week!