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Where to enter a 1099-A on an 1120s

ertaxadvisor
Level 1

Hey

first time receiving a 1099-A issued for an S-Corp, not sure where to begin when it comes to it? cant find much info on it either!

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3 Comments 3
TaxGuyBill
Level 15

A 1099-A is entered as a sale of property.  So you report the sale of whatever it was (probably 4797 or 8949/Schedule D).

 

Just-Lisa-Now-
Level 15
Level 15
what kind of property did they abandon?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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ertaxadvisor
Level 1

It was a car

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