Knowledge Base

11926: Business Return Sale of Asset Subject to Partial Personal Use

Fed Returns Generally

If an asset was partially used for business, shouldn't the amount on the 4797 line 2 of column F be only the business portion of the cost of the asset?

 To report sale of an asset that is partially used for personal use, you can:

  • enter only the date of sale on the 4562 detail screen and
  • report the sale information for the business portion on the 4797 screen.

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