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February 17, 2024
Question

Partial land disposition entry in Turbo Tax

  • February 17, 2024
  • 1 reply
  • 0 views

I’m am trying to figure out how I can record a partial sale of land off a ranch.  Right now the property is listed in TT as one asset and I can’t figure out how to dispose/sell just a small portion of the overall.  Any help on where I can record this and still leave the remaining property in the system for the balance sheet purposes would be so appreciated!  Thank you in advance for any help!

 

Jamie

1 reply

February 18, 2024

Split your current "asset" into two pieces (the percentage/part that was sold, and the percentage/part that you kept) and then delete the original 'full' asset.

 

Then go into the one part of the asset and indicate it was sold.