My client sold a residential real estate (Schedule E) property.
I entered all the information about the sale in the Asset Entry Worksheet.
It calculated a loss on the sale of about $19,000. Then it says "Part of Form 4797 to which asset gain (loss) carries: PART I"
On 4797, Part I, all the numbers look right UNTIL line 2g, which shows up as $0. It should not be 0; it should be (19,000). What's triggering this?
I've searched all over for a box I may have checked wrong but I can't find anything. This is not a converted property or a former primary residence or anything. It's just a rental property, bought in 2018 and sold about 14 months later.
I'm stuck. Thank you!!
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On Sch. E Worksheet, did you check Box H, Complete taxable dispostion?
On Sch. E Worksheet, did you check Box H, Complete taxable dispostion?
Thank you, Jim! I knew I was probably just missing one button . . . but I couldn't find it. You saved me! Happy April 15. -- Heather
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