Sale of business property

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03-11-2009, 07:30 PM

mlci

Junior Member

Join Date: Mar 2009

Posts: 2

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?

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