skyworks
Level 5

Hi,

Does anyone know how detail should be stated on the 1033 gain defer election?

 

I overrided Gain to 0 on disposition screen (the asset entry sheet), why it is still show gains on the 1040?

 

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Just-Lisa-Now-
Level 15
Level 15

I dont use PCOnline, I use ProSeries, but in back in 2017 when I had one of these I remember making a direct entry on the 4797 to reverse that gain that was showing, Deferred gain per IRC 1033, not sure if that was correct, but it got the job done.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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