Land

[Unregistered]

Client sold Rental property.

Bldg is 1250
Land ? (in ATX program)

[veritas]

Help us out with maybe a few more details?

If you are asking how to report the sale. I would allocated the sales price and expenses the same way the cost for land and building were originally allocated.

[Matt Sova]

Land

Land is reported as 1231.

[Unregistered]

Help us out with maybe a few more details?

If you are asking how to report the sale. I would allocated the sales price and expenses the same way the cost for land and building were originally allocated.

What I ment was on 4797 Land would go in Part 1, right? The software (ATX) was asking what kind of property is it. It selected 1250 for building automatically but nothing for land and there for I was asking question.

Thanks

[Brian EA]

What I ment was on 4797 Land would go in Part 1, right? The software (ATX) was asking what kind of property is it. It selected 1250 for building automatically but nothing for land and there for I was asking question.

Thanks

Land 1231 in 4797 part1

Bldg 1250 in 4797 part 3

[Unregistered]

Allocation

Allocate sales expense between the 1231 and 1250 property.

[Unregistered]

Land 1231 in 4797 part1

Bldg 1250 in 4797 part 3

Thank you very much!