George4Tacks
Level 15

https://accountants.intuit.com/support/en-us/help-article/federal-taxes/entering-1033-election-invol...

How do I enter a Condemnation of Property?

To report the deferment of the gain on Form 4797 under Section 1033:

Individual

  1. Go to Screen 17, Dispositions.
  2. Enter the DescriptionDate acquiredDate soldSales price (if any) and Cost or basis.
  3. Scroll down to the Form 4797 section.
  4. Enter the appropriate amount or a -1 in Depreciation allowed (-1 = none, triggers 4797).
  5. Scroll down to the Overrides section.
  6. Enter a -1 in Total gain (loss) [O].
  7. Go to Screen 46, Elections.
  8. Click on Election 1 from the top left navigation panel, or click on Add.
  9. Scroll down to the Other Election section.
  10. Hold down Ctrl+E in Election title and enter the applicable information.
  11. Click OK.
  12. Hold down Ctrl+E in Election text to enter the applicable information. (See the Election Text section below for more information.)
  13. Click OK.

Answers are easy. Questions are hard!