Commercial Property Sale - How to Enter in Tax Planner

[troy]

I am interested in using the tax planner feature to gauge the implications of a commercial property sale in 2018.

I have the cost, depreciation, and sale price of the building. I also understand it may be necessary to split out land vs. building.

How would I enter this information in the tax planner for 2018?

[IRonMaN · Accepted solution]

You need to calculate the gain manually and enter it into the planner.

[troy]

Thanks, what about if I were to enter it exactly on the return?

[IRonMaN]

If you mean you want to create a dummy return, most years that would work but not this year with the tax law changes.

[George4Tacks]

@troy It would go on 4797

[Just-Lisa-Now-]

Use Save As and make a copy of the 2017 return and sell the property on the copy, then use the Tax Planner to see how 2018 would look.

[Marc-TaxMan]

YesLisa.