Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProConnect Tax
- :
- ProConnect Tax Discussions
- :
- Re: How do I enter/indicate in the software that a prior year installment sale property was repossessed? Will it calculate the gain/loss associated with the repossession?
How do I enter/indicate in the software that a prior year installment sale property was repossessed? Will it calculate the gain/loss associated with the repossession?
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
wjg-cpa
Level 1
04-15-2021
11:20 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Real estate property sold in 2017 (installment sale).
Repossessed in 2020.
Costs of repossession include attorney fees, back taxes, repairs.
Repossessed in 2020.
Costs of repossession include attorney fees, back taxes, repairs.
Labels
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
1 Comment 1
sjrcpa
Level 15
04-15-2021
12:34 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
You will need to calculate the gain/loss on repossession yourself.
No way to indicate the property was repossessed.
The more I know, the more I don't know.
