Expenses Related to Prior Year Sale



I have a situation where a partnership who developed
nonresidential real estate and rented it for a short period
of time sold the property in 2003 and this sale was reported
on Form 4797 as a 1231 Gain.

In 2004, some expenses related to warranty type fix it work
on this property occurred. Where should these expenses be
reported on the Form 1065? Since they relate to the sold
property, would they be a 1231 ordinary loss on Form 4797?
Would I simply report them on Page 1 instead?

Last edited by a moderator:


Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads