Angie T. asked
Our Subchapter S Corporation sold our office/warehouse building used since 2007 for a $140,022 loss. Is the proper treatment treating this as an ordinary loss on Form 4797 and showing it on line 4 of 1120S? We had no other gains or losses.
March 30th, 2024
Eric D. answered
The loss from selling the office/warehouse building should be treated as a capital loss, not an ordi...
March 30th, 2024
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