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Entering a bulk disposition of assets in ProSeries

SOLVEDby IntuitProSeries Basic28Updated April 14, 2022

ProSeries doesn't have a automated process for entering a bulk sale however you can manually enter the sale:

  1. Open the Asset Entry Worksheet for the first asset disposed of.
  2. In the Disposition section enter a Date of Disposition.
  3. Leave the sales price blank.
  4. Open each additional Asset Entry Worksheet involved in the sale and enter the same Date of Disposition.
  5. Manually calculate the gain or loss from the transaction.
  6. If the asset was held for 1 year or longer and was sold for a gain:
    1. Press F6 to bring up Open Forms.
    2. Type 97 and press Enter then Create to bring up the Enterable 4797.
    3. Enter the bulk sale information.
  7. If the asset was held for less than one year, or was sold at a loss:
    1. Press F6 to bring up Open Forms.
    2. Type 4797 and press Enter to bring up the 4797 page 1.
    3. Enter the bulk sale in the Sales of Business Property Smart Worksheet.

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