Skip to main content
Level 5
Nov 24, 2021 4:37 PM UTC
Question

Lease Cancellation Fee - 1234A

S-Corp is being paid a land lease cancellation fee that, under 1234A, qualifies as a sale of a capital asset (it was not 1231 property).  How do I enter that gain in Lacerte?  The regular disposition screen?  Anything else I should be thinking about?  Thank you!

This topic has been closed for replies.

1 reply

TaxGirl3Author
Level 5
Dec 1, 2021 2:00 PM UTC

Any thoughts?