pamfisch
Level 1
12-07-2019
08:36 AM
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Best Answer Click here
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sjrcpa
Level 15
12-07-2019
08:36 AM
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If the entire transcation qualifies as a tax free 1031 exchange there is no recapture income.
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TaxGuyBill
Level 15
12-07-2019
08:36 AM
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Somebody didn't like your answer.
@pamfisch Is there a taxable gain? If so, it regular 1250 Gain or is it truly "recapture" (depreciation in excess of straight-line, which is rather unusual for 1250 property)? Did you link the Asset Entry Worksheet to the 8824?
@pamfisch Is there a taxable gain? If so, it regular 1250 Gain or is it truly "recapture" (depreciation in excess of straight-line, which is rather unusual for 1250 property)? Did you link the Asset Entry Worksheet to the 8824?
pamfisch
Level 1
12-07-2019
08:36 AM
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How do you link asset entry worksheet to 8824 in Proseries
Accountant-Man
Level 13
12-07-2019
08:36 AM
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Enter disposition date on asset worksheet, BUT DO NOT ENTER SALES DATA.
Create new F8824. Link to Schedule E by double clicking on line A. Enter data manually and answers applicable questions.
Create new F8824. Link to Schedule E by double clicking on line A. Enter data manually and answers applicable questions.
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