ckhitchcock
Level 2
06-29-2020
08:09 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I've figured the taxable gain on the repossession of real property per worksheet D of IRS Pub 537. How is that figure entered into the ProSeries software?
Thanks.
Labels
dkh
Level 15
06-30-2020
09:56 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Pub 537, page 13, first column........ Reporting the repossession. You report gain or loss from a repossession on the same form you used to report the original sale. If you reported the sale on Form 4797, use it to report the gain or loss on the repossession.
ckhitchcock
Level 2
07-01-2020
06:32 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
My question was more a software question rather than a tax question. Does anyone know how this figure from the worksheet gets put into the tax software?? Thanks.