Form 4797 Department of the Treasury Internal Revenue Service Sales of Business Property (Also Involuntary Conversions and Recapture Amounts
Information about Form 4797, Sales of Business Property, including recent updates, related forms and instructions on how to file. Form 4797 is used to report the details of gains and losses from the sale, exchange, involuntary conversion, or disposition of certain business property and assets.
On Form 4797, line 2, enter "Section 1397B Rollover" in column (a) and enter as a (loss) in column (g) the amount of gain included on Form 4797 that you are electing to postpone. If you are reporting the sale directly on Form 4797, line 2, use the line directly below the line on which you reported the sale.
If the loss on line 11 includes a loss from Form 4684, line 35, column (b)(ii), enter that part of the loss here. Enter the loss from income-producing property on Schedule A (Form 1040 or Form 1040-SR), line 16. (Do not include any loss on property used as an employee.) Identify as from “Form 4797, line 18a.” See instructions
Form 4797 is a tax form distributed by the Internal Revenue Service (IRS). Form 4797 is used to report gains made from the sale or exchange of business property, including property used to ...
4797. Use Part III of Form 4797 to figure the amount of ordinary income recapture. The recapture amount is included on line 31 (and line 13) of Form 4797. See the Instructions for Form 4797, Part III. If the total gain for the depreciable property is more than the recapture amount, the excess is reported on Form 8949. On Form 8949,
Form 4797. Part I – most property held more than 1 year. Long-term assets sold at a loss . Nondepreciable long-term assets sold at a gain. Income from Part III, line 32. Nonrecapture net §1231 losses from prior years. 6