; 4797 Supplemental Schedule of Gains and Losses

(Includes Gains and Losses From Sales or Exchanges of Assets

1979

Department of the Treasury Used in a Trade or Business and Involuntary Conversions)

Internal Revenue Service To be filed with Form 1040, 1041, 1065, 1120, etc.—See Separate Instructions

Name(s) as shown on return Identifying number as shown on page 2
of your tax return

Sales or Exchanges of Property Used in Trade or Business, and Involuntary Conversions (Section 1231)

Caution: If you sold property on which you claimed the investment credit, you may be
liable for recapture of that credit. See Form 4255 for additional information.

SECTION A.—Involuntary Conversions Due to Casualty and Theft (See Instruction F)

f. Cost or other basis,

a. id of property (if necessary, lb. Date fired, Date d. Gross sales e. Depreciation al- | and cost of subsequent
h additional descriptive Date acquired) ¢. Date sold price less | lowed (or allowable) | improvements (if not
1s not shown below) (rman, day, ¥) | (mo. day, ¥7.) | gypense of sale | Since acquisition” | purchasade attach ox

planation)

. Gain or loss
G plus e tess

2 Gain, if any, from line 25, Part III on back of this form attributable to casualty and theft. .
3 Combine the amounts on lines 1 and 2. Enter here, and on the appropriate line as follows. . . . . « «

(a) For all except partnership returns:
(1) If line 3 is zero or a gain, enter that amount in line 4, column g.
(2) If line 3 is a loss, enter the loss on line 7.
(b) For partnership returns: Enter the amount shown on line 3 above, on Schedule K (Form 1065), line 7.

SECTION B.—Sales or Exchanges of Property Used in Trade or Business and Certain Involuntary Conversions
(Not Reportable in Section A) (See Instruction F)

5 Gain, if any, from line 25, Part III on back of this form attributable to other than casualty andtheft. . . . «
6 Combine the amounts on lines 4 and 5, Enter here, and on the appropriate line as follows. . . . . . .
(a) For all except partnership returns:

(1) If line 6 is a gain, enter the gain as a long-term capital gain on Schedule D (Form 1040, 1120, etc.) that is being filed. See

instruction F.

(2) If line 6 is zero or a loss, enter that amount on line 8.
(b) For partnership returns: Enter the amount shown on line 6 above, on Schedule K (Form 1065), line 8.

Ordinary Gains and Losses

f. Cost or other basis,

a, Kind of property (if necessary, lb, Date acquired! d. Gross sales | @. Depreciation al- | cost of subsequent im-
attach additional descriptive Date acquired) c. Date sold price less | lowed (or allowable) ts (i
etal not shown below) (mo, day, yr.) | (mo day, ¥F-) | expense of sale | “since acquisition ch

ttach expl
ion)

, Gain or loss
plus e less 1)

7 Amount, if any, from line 3(a)(2). 6 6 6 6 ee we ee ee ee ee
any, fromline 6(a)(2). 6 6 ee ee ee

if any, from line 24, Part lon back ofthisform. . 2. . 6 2 6 ee ee ee eee
10 Other ordinary gains and losses:

11 Combine amounts on lines 7 through 10. Enter here, and on the appropriate line as follows. . . . 2. « «
(a) For all except individual returns: Enter the gain or (loss) shown on line 11, on the line provided for on the
return (Form 1120, etc.) being filed. See instruction G for specific line reference.
(b) For individual returns:
(1) If the gain or (loss) on line 11, includes losses that are to be treated as an itemized deduction on
Schedule A (Form 1040) (see instruction G), enter the total of the loss(es) here. Include that amount
on Schedule A (Form 1040), line 29 and identify as “loss from Form 4797, line 11(b)(1)”. . . .

(2) Redetermine the gain or (loss) on line 11, excluding the loss (if any) entered on line 11(b)(1). Enter
here and on Form 1040, line 16.0... ee ee

7

283-176-1

Form 4797 (1979)


Form 4797 (1979)

Page 2

ES Gain_From Disposition of Property Under Sections 1245, 1250, 1251,
1252, 1254, 1255-—Assets Held More Than One Year (See Separate Instructions)
Note: For livestock, see section 1231(b)(3) or instruction A for a longer holding period.

Skip lines 20 and 21 if there are no dispositions of farm property or farmland, or if this form is filed by a partnership.

12 Description of sections 1245, 1250, 1251, 1252, 1254, and 1255 property: (pate sequtred

Date sold
(mo., day, yt.)

Property
(D)

Property Property Prope:
Relate lines 12(A) through 12(D) to these columns >> > > (A) (B) ad

13 Gross sales price less expense of sale. © 2. + se + #

14 Cost or other basis. . . - se ee eee

15 Depreciation (or depletion) allowed or allowable) ee ewe

16 Adjusted basis, subtract line 15 from line 14. . . ee es

17 Total_gain, subtract line 16 rom line 13.0. « . . se

18 If section 1245 property:
(a) Depreciation allowed tr allowable) after applicable date (see
instructions) . . ee ee

(b) Enter smaller of line 17 of 18(a) . Pee eee ee ey

19 If section 1250 property:
(a) Additional depreciation after 12/31/75 (see instructions). . «
(b) Applicable percentage times the smaller of line 17 or line 19(a)
(see instruction H4). . . . 6 « ee ew we
(c) Subtract line 19(a) from line 17. (If line "7 is not more than
line 19(a), skip lines 19(d) through 19(h). Enter the amount from
line 19(b) on line 19()). . 2. . woe
(d) Additional depreciation after 12/31/69 and before vue eee
(e) Applicable percentage times the smaller of line 19(c) or 19(d)
(see instruction H.4) 20. 2 6 ee ee ee
(f) Subtract line 19(d) from line 19(c). (If line 19(c) is not more than
line 19(d), skip lines 19(g) and 19(h). Combine the amounts on
lines 19(b) and 19(e) on line 19()). . . « + soe
(g) Additional depreciation after 12/31/63 and before yy70 eo.
(h) Applicable percentage times the smaller of line 19(f) or 19(g)
(see instruction H.4). 2 6 2 ew ew ee ee

(i)_Add lines 19(b), 19(e), and 19(h). » se ee

20 If section 1251 propel
(a) If farmland, enter soil, water, and land clearing expenses for cur-
rent year and the four preceding years. . » » + + + «

(b) If farm property other than land, subtract line 18(b) from line 17;
if farmland, enter smaller of line 17 or 20(a) (see instruction H.5)
(c) Excess deductions account (see instruction H.5). . . . «

(d) Enter smaller of line 20(b) or 20(c) » » + + + + + =

21 If section 1252 property:
(a) Soil, water, and land clearing expenses made after 12/31/69. .
(b) Amount from line 20(d), if none enter a zero. . . « « s

(c) Subtract line 21(b) from line 21(a). (If line 21(b) is more than
line 21(a), enter zero.). 2 se ee ee ee

(d) Line 21(c) times applicable percentage (see instruction H.5).  .
(e) Subtract line 21(b) from line 17. . 2 2 1 ew we

(f)_Enter smaller of line 21(d) or 21(e). _. =. .« .» . - +

22 If section 1254 or 1255 property:
(a) Intangible drilling and development costs deducted after 12/31/75
or ordinary income under section 1255 (see instruction H.6). .

(b) Enter smaller of line 17 or 22(a). . -

Summary of Part Ill Gains (Complete Property columns (A) through (D) through line 22(b) before going to line 23)

23 Total gains for all properties (add columns (A) through (D), line 17). . . » + + + . eae
24 Add columns (A) through (D), lines 18(b), 19(i), 20(d), 21(f), and 22(b). Enter here and on Part i, line 9 see

25 Subtract line 24 from line 23. Enter the portion attributable to casualty and theft on Part I, line 2; enter the por-
tion attributable to other than casualty and theft on Part |, line5. 0.» ss ss se

‘YX U.S, GOVERNMENT PRINTING OFFICE : 1979—O-263-176

283-176-1