troy
Level 3
‎12-06-2019 05:26 PM

I am interested in using the tax planner feature to gauge the implications of a commercial property sale in 2018.

I have the cost, depreciation, and sale price of the building. I also understand it may be necessary to split out land vs. building.

How would I enter this information in the tax planner for 2018?

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IRonMaN
Level 15
‎12-06-2019 05:26 PM

You need to calculate the gain manually and enter it into the planner.


Slava Ukraini!

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troy
Level 3
‎12-06-2019 05:26 PM
Thanks, what about if I were to enter it exactly on the return?
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IRonMaN
Level 15
‎12-06-2019 05:26 PM
If you mean you want to create a dummy return, most years that would work but not this year with the tax law changes.

Slava Ukraini!
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George4Tacks
Level 15
‎12-06-2019 05:26 PM
@troy It would go on 4797

Answers are easy. Questions are hard!
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Just-Lisa-Now-
Level 15
Level 15
‎12-06-2019 05:26 PM
Use Save As and make a copy of the 2017 return and sell the property on the copy, then use the Tax Planner to see how 2018 would look.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Marc-TaxMan
Level 8
‎12-06-2019 05:26 PM
YesLisa.
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