Welcome Guest. Register Now!  



 
 
LinkBack Thread Tools Search this Thread Display Modes
Prev Previous Post   Next Post Next
  #1 (permalink)  
Old 03-11-2009, 07:30 PM
Junior Member
 
Join Date: Mar 2009
Posts: 2
Unhappy Sale of business property

I filed form 4797 to report sale of business property held for 15 years and realized gains, but TaxCut placed the gain on 1040 line 14 as ordinary income.

It should be long term capital gain. How can I correct it?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
 


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Capital asset sale or Second Home Sale? Or Gift??? dawnjellybean Income 0 02-04-2009 07:22 PM
Deduction of property used in rental property mhrobinson3 Rental Real-Estate 4 01-20-2009 11:57 AM
How much US tax do I have to pay on the gain on sale of foreign property in the UK? aoraha C-Corporation 0 08-05-2008 06:31 PM
Are proceeds received from the sale of inherited property considered taxable income? pinky Income 2 09-13-2007 01:30 PM
Capital Losses on the sale of Second home turned into Rental Property? emc2005 Capital Gains 1 07-30-2007 05:52 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.