About Form 4797, Sales of Business Property


Use Form 4797 to report:

  • The sale or exchange of property.
  • The involuntary conversion of property and capital assets.
  • The disposition of noncapital assets. 
  • The disposition of capital assets not reported on Schedule D.
  • The gain or loss for partners and S corporation shareholders from certain section 179 property dispositions by
    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.
  • Gains or losses treated as ordinary gains or losses, if you are a trader in securities or commodities and made a mark-to-market election under Internal Revenue Code section 475(f).

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