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12101: How to Enter a Group Sale


1040 Individual Data Entry

How to enter a Group Sale

 

Go to the 4562 screen belonging to the first asset in the group. In the IF SOLD section enter:

  1. Property Type
  2. Date Sold
  3. Group Sale Number
  4. Group Sale Price
  5. Group Expense of Sale

For the other assets sold in the group enter:

  1. Date Sold
  2. Property Type
  3. Group Sale Number  

A group sale may be entered from the 4562 screen for only a 4797.

Group Sale and Installment Sale:

Group sales entered on the 4562 will not carry to a 6252, Installment Sales.  If you determine that a 6252 is needed, enter it directly.

If you are entering a group sale and an installment sale, the property type should be removed from the 4562 screens involved in the group sale.

 

For more information about installment sales, see "How to Enter an Installment Sale" in Related Links below.

Review the 6252 Instructions and Publication 537 for additional details. 

 


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