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S
skyworks
Level 5
July 2, 2020
Question

What to include on 1033 gain defer election? how to deferr 1033 gain in PCO?

  • July 2, 2020
  • 1 reply
  • 5 views

Hi,

Does anyone know how detail should be stated on the 1033 gain defer election?

 

I overrided Gain to 0 on disposition screen (the asset entry sheet), why it is still show gains on the 1040?

 

This topic has been closed for replies.

1 reply

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
July 2, 2020

I dont use PCOnline, I use ProSeries, but in back in 2017 when I had one of these I remember making a direct entry on the 4797 to reverse that gain that was showing, Deferred gain per IRC 1033, not sure if that was correct, but it got the job done.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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