Form 4797, Sales of Business Property
Use Form 4797 to report:
- The sale or exchange of:
- Property used in your trade or business;
- Depreciable and amortizable property;
- Oil, gas, geothermal, or other mineral properties; and
- Section 126 property.
- The involuntary conversion (from other than casualty or theft) of property used in your trade or business and capital assets held in connection with a trade or business or a transaction entered into for profit.
- The disposition of noncapital assets (other than inventory or property held primarily for sale to customers in the ordinary course of your trade or business).
- The disposition of capital assets not reported on Schedule D.
- The gain or loss (including any related recapture) for partners and S corporation shareholders from certain section 179 property dispositions by partnerships (other than electing large partnerships) and S corporations.
- The computation of recapture amounts under sections 179 and 280F(b)(2) when the business use of section 179 or listed property decreases to 50% or less.
Other Items You May Find Useful:
Pub 544, Sales and Other Dispositions of Assets
Publication 550, Investment Income and Expenses
Publication 925, Passive Activity and At-Risk Rules
Form 4255, Recapture of Investment Credit
Form 4684, Casualties and Thefts
Form 6198, At-Risk Limitations
Form 6252, Installment Sale Income
Form 8824, Like-Kind Exchanges(and section 1043 conflict-of-interest sales)
Comments on Form 4797
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