Form 4797 sale date not in current year

Forum|Forum|3 years ago
February 16, 2023
1 reply
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I need to move a Seller Financed Home loan from a deceased family member Taxes to their Trust Taxes. Trust tax returns are done in Turbo Tax Business. Turbo Tax Business is preventing me from filing the Trust return. The house was sold in 2007. The specific error is Form 4797 pg 2, Line 19c is not a date in the current year, meaning not in 2022. How do I fix this? I need to report Seller received Interest in 2022 and have done this as Installment Sales starting in 2007. The only difference being that a Trust is now receiving the Interest vs a person.

TurboTax Business Windows

Best answer by ThomasM125

Form 4797 would report the sale of the home. Since that was not done in the current tax year, you can delete that form if you have no other business property sales in the current year:

Click on Tax Tools in the left menu bar
Click on Tools
Look under Other Helpful Links and choose Delete a form

Find the Form 4797 in the list and click on the delete icon to remove it.

ThomasM125Answer

Form 4797 would report the sale of the home. Since that was not done in the current tax year, you can delete that form if you have no other business property sales in the current year: