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Entering a bulk disposition of assets in ProSeries
by Intuit•2• Updated 3 months ago
ProSeries doesn't have a automated process for entering a bulk sale however you can manually enter the sale:
- Open the Asset Entry Worksheet for the first asset disposed of.
- In the Disposition section enter a Date of Disposition.
- Leave the sales price blank.
- Open each additional Asset Entry Worksheet involved in the sale and enter the same Date of Disposition.
- Manually calculate the gain or loss from the transaction.
- If the asset was held for 1 year or longer and was sold for a gain:
- Press F6 to bring up Open Forms.
- Type 97 and press Enter then Create to bring up the Enterable 4797.
- Enter the bulk sale information.
- If the asset was held for less than one year, or was sold at a loss:
- Press F6 to bring up Open Forms.
- Type 4797 and press Enter to bring up the 4797 page 1.
- Enter the bulk sale in the Sales of Business Property Smart Worksheet.