John R
Level 1

Hey Accountant-Man,

Thanks for the quick reply.

I have used this program for 20 years and I have always been able to list land with no building on the schedule without any errors. It is entered as non-residential real property with code J1. The total cost and the land cost are the same so there is no depreciation calculated,  BUT the information is there when the land is sold.  Now the program using Code X only keeps track of the land cost with no acquisition date and will not allow me to enter the sale info from the asset screen. I must go directly to Form 4797 and reenter all the information to record the sale.  It has never been this way until this year  and still is handled the old way in the 1120S and 1065 programs.  Very cumbersome.

 

0 Cheers