1041-US: Treatments for mass dispositions (FAQ)

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Question

I followed the instructions for mass disposition of assets but did not get the results I expected. What happened?

Answer

Use the mass disposition of assets feature in the asset module to sell a group of like-kind assets for one sales price or to trade multiple assets for one asset. Note that only like-kind assets should be disposed together (for example, section 1245 property with other section 1245 property). If there are different types of property grouped together, the lowest asset number in the mass asset disposition is used to determine the treatment that the disposition receives.

Related topic: 1041-US: Business and capital asset sale information FAQs

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