Form 4797 – Sale of Business Property – Force to Part II
To enter a loss for the sale of business property that was not previously entered as a depreciable asset, follow the steps below.
Online
Dashboard
- From within your TaxAct return, click Income.
- On smaller devices, click the menu at the top left corner of your screen, then make your selection.
- Click the Business & Self Employed drop-down.
- Click Add beside Sale of Business Property.
- Complete the rest of the interview process.
Classic
- From within your TaxAct return, click Federal.
- On smaller devices, click the menu at the top left corner of your screen, then make your selection.
- Click the Investment Income drop-down, click Gain or loss on the sale of investments drop-down, then click Ordinary gain or loss (Form 4797).
- Complete the rest of the interview process.
Desktop
- From within your TaxAct return, click Federal.
- Click the Investment Income drop-down, click Gain or loss on the sale of investments drop-down, then click Ordinary gain or loss (Form 4797).
- Complete the rest of the interview process.