How to remove Form 4797 data after deleting sale of rental property info?

Forum|Forum|2 years ago
January 21, 2024
2 replies
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I'm trying to model what taxes would have been if I hadn't sold a rental property in 2021. I deleted the rental sale info from my TT Premier return that year, but data from depreciated assets related to that rental is still populating Form 4797 and I can't remove the data or delete the Form. Can you walk me through how to remove this data?

TurboTax Online

ee-ea

Employee

https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-forms/view-delete-forms-turbotax-online/L7SZhwCHv_US_en_US?uid=lrffsfsl

23bambam23Author

Sorry but these instructions do not work for 2021 TT Premier. Could you provide instructions for this version? Thanks.

Critter-3

To remove the sale you have to "unsell" all the assets ... that will remove the form 4797.

Carl11_2

Employee

YOu need to work through the SCH E again. In one of the first 3-5 screens change the option currently selected so you aren't selected "I sold this property".
Then, you have to work through the Assets/Depreciation section and through each individual asset to "un" report the sale. Before you unselect the option for "I sold this asset", go to the sales information screen and remove "ALL" of your dates and numbers. Then go back and unselect the "I sold this asset" option.

Once that's done, you may still need to manually delete the 4797 and the SCH D.