1254 property disposition input

[loricpa100]

Oil and Gas K1 with Sec 59(e) disposition (K1, line 11 capital I).  Per the note (thank you Lacerte), this should be reported on the disposition screen and with a gain be on Part III, Form 4797 as a Sec 1254 gain.  Great - now if I could just get it there!   I have the input, I have Form 4797 and I checked the box for Sec 1254 property.  I also linked to the K1 it flowed from.  This is a final year K1.

The result is flowing to Form 4797 Part II vs. Part III.  Other than checking the box for Sec 1254 property on the Disposition screen 17 - no idea how to get it to part III with that section of property.  Searching community and help - cannot find. Help!

[PhoebeRoberts]

Enter the gain amount in the Recapture Amount (if not section 1245) line of the Form 4797 section of Screen 17.1.

[loricpa100]

Appreciate the speedy reply.

If I do that - it removed it completely from Part II without an entry anywhere.  Sigh.

Without a sales price, does not show up.  Put that back and still on Part II.  I need the magic combination if you know it

No sales price and recapture input as suggested (with -1) to get 4797 = Nothing.  Remove -1 = nothing  Both of these have the 1254 box with a 3.  No change with or without that.

Put back sales price and it reappears - yet in Part II only - despite the recapture input.  

Top to bottom what to check and what not to would be helpful.  Also do I need anything in the Passive info linking to the K1 on the Dispositions screen?

[PhoebeRoberts · Accepted solution]

Input

Output

As long as the results you get are what you want, you can make the input look however. Sometimes I link transactions; sometimes I have an other adjustment to basis; sometimes no basis adjustment is necessary. If the IDC recapture is passive and affects the end result, it may be easier to link it than to make the adjustment elsewhere.

[loricpa100]

I GIVE UP.  I deleted the line, input those fields and this is what I get

[PhoebeRoberts]

You need a long-term date for the acquisition date.

[loricpa100]

THANK YOU!!!