Form 4797 Sales Of Business Property {4797}

Form 4797 (2023), SALES OF BUSINESS PROPERTY (Also Involuntary Conversions and Recapture Amounts Under Sections 179 and 280F(b)(2)). This form is used 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). www.FormsWorkflow.com