Entering business-use and personal-use sales

Alerts and notices

To enter the sale of a business-use or personal-use asset, calculate the gain/loss from that sale and manually enter that amount in the applicable field.

Notes

Entering the sale of a business-use asset

When a business-use asset is sold within an activity, such as a rental property, enter the gain/loss in the applicable fields on the following tabs. 

  • Enter the sale of an asset from a passive activity on the Activities > Data Entry button > 8582 G/L tabs.
  • Enter the sale of an asset from a non-passive activity on the Income > Cap G/L tab or Form 4797 tab.

    Note: For information regarding unrecaptured section 1250 gains, see Example: Entering unrecaptured Section 1250 gains.

Entering the sale of a personal-use asset

Enter the gain/loss on the applicable tab under the Income button, such as the Cap G/L, Form 4797, or 28% G/L tabs.

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