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

sale of farm

Hepler
Level 1

 

I have a client that has been farming for 28 years.  They retired and sold the farm and all the equipment in 2022. They had NO farm activity in 2022.  Schedule F would be 0.

1. How do I report the sale in Proconnect?

2. Do I do a sold disposition for every asset?

3. My client thinks that they will not own any Capital Gains since they have lived there for so long.  Is this correct and if so, how do I report the sale then?

0 Cheers
1 Comment 1
sjrcpa
Level 15