Sale of Section 197 Intangibles Business Property

Forum|Forum|3 years ago
January 4, 2023
1 reply
13 views

Hi online community,

the sale of intangible property used in business is reported where in the Form 4797 or in Schedule D? I have researched and the information seems to be confusing to me and as always, I trust the people on this chat better. Appreciate it. Thank you have a great day.

ProSeries Professional

This topic has been closed for replies.

Just-Lisa-Now-

Intuit Community Champion

You should be able to sell it right from the asset entry worksheet, if you scroll down, its got a place for the disposition.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

A

athaureaux6Author

Level 7

Hi thank you for responding. Could you be more specific. Where is that asset entry worksheet you mentioned. If you do not mind. Thanks again.

Just-Lisa-Now-

Intuit Community Champion

You entered it as an asset, right? What type of intangible is it? Let me run a dummy asset entry worksheet to make sure Im telling you the right info.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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