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NUGGETT
Level 2
December 6, 2019
Solved

A sale of business property - equipment - sold as a gain. Is the form to use is 4797 and what is the section - 1245 1250 1252 1254 1255. Depreciation must be recaptured

  • December 6, 2019
  • 2 replies
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2 replies

TaxGuyBill
December 6, 2019
"Equipment" would usually be §1245.  As for the form, when you enter the sale on the Asset Entry Worksheet, the sales information automatically flows to the 4797.
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