Sale of Business Property that is a loss

[delmarflwr2]

I have a business property that was sold at a big loss. I went to 4797 and section 111. I am getting an error saying cost or basis is much higher than sales price. Well, it was a big loss when it sold.

I put the cost basis including selling expenses and it is highlighted say adjusted basis exceeds of this property exceeds sales price. Only gains are allowed.

Excuse my ignorance, then where on form 4797 do I put information for the loss of this property.

Please help- I am going crazy with this 

[BobKamman]

You probably have a gain after depreciation. How much did the property cost, how much depreciation was claimed, what was the selling price?  

[Just-Lisa-Now-]

If you dispose of the asset using the disposal section of the asset entry work sheet you shouldnt have to make any direct entries on the 4797, the gain/loss and depreciation recapture should flow to the proper lines.

[delmarflwr2]

sales price was 89000.00

Cost basis was 222731

Depreciation taken 72019