How in Proseries do you group or record a group of fixed assets sold for one price?

Forum|Forum|6 years ago
December 7, 2019
1 reply
17 views

How do you report a disposition of a rental with multi-asset entries. Must with calculate an allocable share of the sales price to each component and process their disposition individually?

There has to be a better/easier way to process the disposition as bulk transaction all linked to the disposition of the rental property as a whole.

ProSeries Professional

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Best answer by TaxGuyBill

Unfortunately, ProSeries does not have the ability to report 'bulk' sales like that.

You need to either (1) allocate the sales price to each asset, or (2) stop the depreciation on each asset (enter the disposition date but no sales information) and manually combine them to report it on the "Enterable 4797".

T

TaxGuyBillAnswer

Level 15

Unfortunately, ProSeries does not have the ability to report 'bulk' sales like that.

You need to either (1) allocate the sales price to each asset, or (2) stop the depreciation on each asset (enter the disposition date but no sales information) and manually combine them to report it on the "Enterable 4797".

G

Golfer2016

Level 5

Bill, but then isn't there a problem of combing 1245 property and 1250 property?

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