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April 8, 2021
Question

I sold a couple of properties but somehow one of them shows twice in my return - how do I get to the place to delete the extra entry?

  • April 8, 2021
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1 reply

April 8, 2021
  1. Open or continue your return, search for sale of business property (use this exact phrase; copy/paste if necessary) and then select the Jump to link at the top of your search results.
  2. On the Any Other Property Sales? screen, make sure the first checkbox is checked and Continue to the next screen.
  3. The next screen, Sale of Business or Rental Property, should display Edit and Delete buttons next to the property in question.
  4. Select the appropriate button and follow the onscreen instructions to either edit or delete the 4797.

f you sell property that is not your main home (including a second home) that you’ve held for at least a year, you must pay tax on any profit at the capital gains rate of up to 15 percent. It’s not technically a capital gain, Levine explained, but it’s treated as such. Profit from selling buildings held less than a year is taxed at your regular rate.  Tax Law for Sale of Property

 

 

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