That's a good form 4797 to re-review thanks 82vet. Yeah sorry for that...it's "cash method" i'm using. Section 179 expense options will be good to look at....if i have enough profits to take. I've been doing my taxes since i was 16 and for my father late estate...I DO NOT like CPA's. Total disenchantment with them. I've always been good at reading and figuring out what the forms are doing. I trust myself to get everything I'm owed back...not some 3rd party.
The two times I went for help to two different CPAs. They basically made me fill out all the forms with ALL THE INFORMATION AND NUMBERS...if I'm going to sit in their office for 5 hours on a desk full of paperwork and a calculator (doing all their work for them)....it didn't take me long to figure out i was basically filling out all the neccesary forms with real numbers.... the entire 1040, with needed schedules. The forms they used tried to MASK the FACT that your numbers woudl just be inputted into the real forms. My older brother with a N.Y. engineering business confirmed what they do too, you end up doing all the work yourself. What fun is that? You can't just bring the CPA the organized receipts for sales, expenses and profits-gains with all the information...and your old tax returns to grab brokerage numbers from...and walk away. No, you end up doing all the work in a little cubby hole yourself with your own calculator...filling out forms whereby they just plug and play and get paid afterwards. I'm calling capola on that.
Granted the two CPAs i went to might have been clueless, scammy, bad ones...that didn't know how to handle brokerage accounts or businesses. It was a very cold ugly place, sitting me alone to do my own taxes myself...never will I do all the work and hand feed them the end result numbers so I can pay them $500. to $1,000.
82Vet...you've helped me out a lot with those two pointers...just what i needed. I had read 4797 few years back....good one to start adding into my yearly tax returns. Sorry for my rant on CPAs, might just be my area i live in. I actual enjoy doing my taxes myself (no turbo-tax-pro or any other tax program), I trust myself more.