4797

Btab75
Btab75 Member Posts: 2 Newcomer
in Income

I'm trying to enter the sale of a business property which needs to transfer to form 4797, When i click the form is goes to schedule C income, what are the steps to get me to form 4797?

Answers

  • TriciaD
    TriciaD FreeTaxUSA Agent Posts: 34

    Hello Btab75,

    When you enter a sold business asset, Form 4797 is generated and included with your tax forms to show the sale of the business property.

    To enter information regarding the sale of a business asset go to Income > Business Income (Schedule C) and select Edit next to the business you have started. You will be directed to a "Your Business" menu page. Select Start or Edit next to Depreciable Assets under the Expenses and Assets section. Entering an asset you add the sale (proceeds), cost (basis), and depreciation information for the asset which is used on Form 4797.

    If you have questions or need additional help entering your information, please contact Customer Support from your account.

Categories