Form 4797 – Reporting the Sale of Rental Real Estate Property
Form 4797 is filed to report the sale of assets used in a trade or business. This sample video tutorial covers how to prepare Form 4797 for the sale of a rental property.
Form 4797 – How to Record Sale of Company Vehicles with Depreciation Recapture
Form 4797 is filed with an income tax return to report the sale of assets used in a trade or business. This example Form 4797 covers a scenario where the business sells company vehicles and has to account for depreciation recapture.
Form 4797 – Sale of Business Use Property with Section 1231 Gains
The IRS Form 4797 is completed when a business sells property that was used in connection with that trade or business. This example covers a Form 4797 reporting for the sale of business use assets that realized a Section 1231 gain.
Form 4797 – How to Report the Distribution of Property From an S Corporation
Form 4797 is filed to report the sale or disposition of assets used in a trade or business. This video tutorial covers a sample Form 4797 for an S corporation that distributed assets to its shareholders. The distribution of assets is treated as a deemed sale.
Form 4797 – Depreciation Recapture When Business Use Falls Below 50%
IRS Form 4797 is used to report the sale of assets used in a trade or business. Many businesses use bonus depreciation or Section 179 to accelerate depreciation expense. If business use falls below 50%, there may be depreciation recapture.
IRS Form 4797 – Reporting the Sale of Section 179 Assets for S Corporations
Form 4797 is filed to report the sale of assets used in a trade or business. This example covers a Form 4797 where an S corporation sells assets that previously claimed Section 179 deduction.
IRS Form 4797 – Ordinary Losses on Short Term Property Sales
The IRS Form 4797 is filed to report the sale or disposition of property used in a trade or business. This tutorial covers a sample Form 4797 for the sale of property held less than 1 year.
How to Complete IRS Form 4797 for Section 475(f) Mark-to-Market (MTM) Stock Traders
Certain day traders that qualify for trader tax status (TTS) may be eligible to make a Section 475 MTM election. If the election is made, the taxpayer reports their stock trades on Form 4797.
How to File IRS Form 4797 for the Sale of Business Use Vehicles
Businesses that sell their vehicles must generally report the gain or loss of the sale on Form 4797. This example looks at an S corporation that sold a business vehicle in 2022.
How to Record the Sale of Publicly Traded Partnerships (PTP) Units on Form 1040
Investors in a PTP will receive a Schedule K-1 each year. The investor uses this information to complete their own tax returns. When an investor sells their PTP units, the gain/loss on sale must be recorded and certain adjustments are generally required.