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Level 2
April 21, 2021
Solved

Sale of real estate.

  • April 21, 2021
  • 1 reply
  • 8 views

Client sold real estate.  Just land.  No depreciation.  No income from ownership.

Which Section does the sale apply to on From 4797?  1245, 1250, 1252, 1254, or 1255.

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Best answer by BobKamman

How was it used in a trade or business?  Otherwise, forget Form 4797.  Use Schedule D.  

1 reply

BobKamman
BobKammanAnswer
Level 15
April 21, 2021

How was it used in a trade or business?  Otherwise, forget Form 4797.  Use Schedule D.  

DonnakAuthor
Level 2
April 21, 2021

Not used in trade or business.  Thanks for the quick response.