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March 31, 2024
Question

I can't delete a Sale of Business Property that was incorrectly added.

  • March 31, 2024
  • 1 reply
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No matter what I do, it still shows up under the Business Items - Sale of Business Property. I just want to delete it.

1 reply

March 31, 2024

In TurboTax Online, if the sale of business property was recorded under Wages & Income and Other Business Situations and Sale of Business Property, you are able to remove the sale by deleting the entry at the screen Sale of Business or Rental Property.  Select the delete trashcan icon to the right of the transaction.

 

 

You also may be able to remove the sale by selecting Tax Tools down the left side of the screen.  Then select Tools, then select Delete a form.  However, you need to know on what form the sale is recorded.  In this example, the sale is recorded on IRS form 4797.

 

 

If the sale of business property was recorded within a self-employment activity or rental activity, you may need to return to the Business Asset Summary in the self-employment activity or return to Your Property Assets in the rental activity.  Select Edit for the asset that was sold.  Go through the screens reversing the sale of the asset.

 

 

Finally, you may have  disposed of a Vehicle within a self-employment activity or rental activity.  You may need to return to the Vehicle Summary in the self-employment activity or rental activity.  Select Edit for the asset that was sold.  Go through the screens reversing the sale of the asset.

 

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