Solved: Commercial Property Sale - How to Enter in Tax Planner

troy · ‎12-06-2019

I am interested in using the tax planner feature to gauge the implications of a commercial property sale in 2018.

I have the cost, depreciation, and sale price of the building. I also understand it may be necessary to split out land vs. building.

How would I enter this information in the tax planner for 2018?

IRonMaN · ‎12-06-2019

You need to calculate the gain manually and enter it into the planner.

Slava Ukraini!

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IRonMaN · ‎12-06-2019

You need to calculate the gain manually and enter it into the planner.

Slava Ukraini!

troy · ‎12-06-2019

Thanks, what about if I were to enter it exactly on the return?

IRonMaN · ‎12-06-2019

If you mean you want to create a dummy return, most years that would work but not this year with the tax law changes.

Slava Ukraini!

George4Tacks · ‎12-06-2019

@troy It would go on 4797

Here's wishing you many Happy Returns

Just-Lisa-Now- · ‎12-06-2019

Use Save As and make a copy of the 2017 return and sell the property on the copy, then use the Tax Planner to see how 2018 would look.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

Marc-TaxMan · ‎12-06-2019

YesLisa.

Commercial Property Sale - How to Enter in Tax Planner