Form 4797, Sales of Business Property, 2021 Form 4797, Sales of Business Property, 2021 Summary: This is an example of Form 4797, 2021, as pertains to the estate described in the text. The completed line items are: "Name(s) shown on return" field contains Thomas Smith Bankruptcy Estate "Identifying number" field contains 22-0000000 "1a. Enter the gross proceeds from the sales or exchanges reported to you for 2021 on Form(s) 1099-B or 1099-S (or a substitute statement) that you are including on line 2, 10, or 20. See instructions" field contains 280,000Under" Part I: Sales or Exchanges of Property Used in a Trade or Business and Involuntary Conversions From Other Than Casualty or Theft—Most property Held More Than 1 Year (see instructions)": "6. Gain, if any, from line 32, from other than casualty or theft:" field contains 126,800 "7. Combine lines 2 through 6. Enter the gain or (loss) here and on the appropriate line as follows" field contains 126,800 "9. Subtract line 8 from line 7. If zero or less, enter -0-. If line 9 is zero, enter the gain from line 7 on line 12 below. If line 9 is more than zero, enter the amount from line 8 on line 12 below and enter the gain from line 9 as a long-term capital gain on the Schedule D filed with your return. See instructions." field contains 126,800
