Update to the Instructions for Form 4797, Sales of Business Property -- 13-FEB-2013
If you downloaded the 2012 Instructions for Form 4797 before February 8, 2013, please note the following.
The American Taxpayer Relief Act of 2012 extended the deferred gain from the qualifying electric transmission property provision to cover property sold or exchanged by a qualified electric utility in 2012 and 2013. The text on page 6 of the 2012 Instructions for Form 4797 under Deferred Gain from Qualifying Electric Transmission Transaction has been revised to reflect this extension.
The updated version of the Instructions for Form 4797 is available for download.