Welcome back! Ask questions, get answers, and join our large community of tax professionals.
Showing results for 
Search instead for 
Did you mean: 

How do I get Sec. 1245 property, on a partnership return, to correctly populate in Sec. III of Form 4797?

On screen 19, under Form 4797, it indicates to leave the box blank for 1245 property.  However, the disposal does not appear in Sec. III as it should.  It only appears in the top portion of Sec. I.
0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

2 Comments 2
Level 15

Why do you think it should be in Part 3?  Was it sold at a gain?

If it was sold at a loss, it should be in Part 1, not Part 3.

Level 15

Right above where it says to leave blank, there is a check box to force Part I. Did you check that box. [O] is for an override making the program force it into Part I. Remove the check mark 

Here's wishing you many Happy Returns