Eric5
Level 1
08-24-2020
09:10 AM
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Somehow I ended up with a gain on sale of property being recorded on Form 4797 when I should have a tax free exchange on form 8824. How do I delete Form 4797 (this transaction relates to real property that is not a business)?
Just-Lisa-Now-
Level 15
08-24-2020
09:23 AM
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Did you enter the sales price on the asset entry worksheet? In a 1031 exchange you wouldn't enter a sales price there, only a date of disposal. Try these instructions and see where your misstep occurred.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Eric5
Level 1
08-24-2020
09:29 AM
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Thanks! That seems to have worked...