Form 4797 - Sale of Business Property - Force to Part II

To enter a loss for the sale of business property not entered in TaxAct® as an asset for depreciation: 

  1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click the menu icon in the upper left-hand corner, then select Federal
  2. Click Investment Income to expand the category and then click Gain or loss on sale of investments
  3. Click Ordinary gain or loss (Form 4797)
  4. Click +Add Sale of Business Property to create a new copy of the form or click Review to review a form already created
  5. The program will proceed with the interview questions for you to enter or review the appropriate information
  6. On the screen titled Asset Sale - Type of Property, select Cost-Sharing Property (Sec. 1255) in order for the sale to be reported on Form 4797, Part II, Line 10.