Knowledge Base

11798: 4797 - Prior Year Section 1231 Losses

1040 Individual

Where can I enter non-recaptured Section 1231 losses from previous years?
Report the non-recaptured amount on the 4797 screen. Enter the non-recaptured amount in the appropriate Nonrecaptured net Section 1231 losses box in part 4 of the 4797 screen. It will flow to line 8 of Form 4797.


Note:  You do not need to report line 8 unless you have a gain this year on line 7 to take the loss against. If you do not have another sale, you do not have to report the non-recaptured loss this year, in which case the amount entered flows to Wks 1231-C.

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