It depends. Is your LLC small business reported on IRS Schedule C Profit and Loss From Business on your Federal 1040 income tax return? Or from something else? ...
S corp shareholder basis is tracked on IRS form 7203 which is included within the screens for the IRS Schedule K-1 (1120S).
The form takes into account gains, ...
In TurboTax Online, to report Personal item sales, follow these directions.
Down the left side of the screen, clickFederal.
Down the left side of the screen...
Delete the asset entry worksheet by deleting the asset.
In TurboTax Online, delete the asset from the Business Asset Summary in the self-employment activity. D...
