Skip to main content
Level 4
March 22, 2022
Question

How to create Form 4797 in Proconnect?

  • March 22, 2022
  • 1 reply
  • 6 views

I am trying to "sell" a BIZ car used ~ 10% in BIZ for 5 years. Used just SL depreciation.

On the input screen: Depreciation - Details - Disposition - do I enter the entire sale price or should I pro-rate it for the BIZ portion of the car only?  I entered the whole amount of sale, and the 4797 does not look correct to me.

 

Thanks community

This topic has been closed for replies.

1 reply

George4Tacks
Level 15
March 22, 2022

I would just enter the date of sale in the depreciation screen. Then go to Dispositions and use that data to enter the 4797 sale (look at the tabs in dispositions). 

Just enter the 10% figures https://proconnect.intuit.com/community/form-8949/help/form-4797-input-for-sales-of-business-property/00/3685

 

Answers are easy. Questions are hard!