4797 Supplemental Schedule of Gains and Losses

Sales, Exchanges and Involuntary Conversions under 7
Department of the Treasury Sections 1231, 1245, 1250, 1251, 1252, and 1254
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 1

of your tax return

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

SECTION A.—involuntary Conversions Due to Casualty and Theft (See Instruction E)

f. Cost or other basis,

© ornare Geseeittie’” b, Date acquired]  . Date sold | d, Grass sales [6 Depreciation al, | cost of subsequent im . Gain or loss
etals not shown below) (omo., day. yt) | (mo., day, yr) rice Since acquisition’ | Ghased, attach explana. | (4 plus e less 1)
tion) and expense of sale

(a) For all except partnership returns:
(1) If line 2 is zero or a gain, enter such amount in column g, line 3.
(2) If line 2 is a loss, enter the loss on line 5.

(b) For partnership returns: Enter the amount shown on line 2 above, on Schedule K (Form 1065), line 6.

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

4 Combine the amounts on line 3. Enter here, and on the appropriate line as follows .
(a) For all except partnership returns:
(1) If line 4 is a gain, enter such gain as a long-term capital gain on Schedule D (Form 1040, 1120, etc.) that is being filed. See
instruction E.
(2) If line 4 is zero or a Joss, enter such amount on line 6,

(b) For partnership returns: Enter the amount shown on line 4 above, cn Schedule K (Form 1065), line 7.

Ordinary Gains and Losses

f. Cost or other basis,

‘4. Kind of property (if necessary, b. Date acquired] c. Date sold} a. Gross sales} @- Depreciation al- | cost of subsequent im Gai
attach additional descriptive i 4 * lowed (or allowable) | provements (if not pur- g. Gain or loss
details not shown below) (mo., day, yr.) | (mo.. day, yr.) price Since acquisition | chased, attach explana. GG plus e less f)

tion) and expense of sale

5 Amount, if any, from line 2(a)(2) .
6 Amount, if any, from line 4(a)(2) .
7 Gain, if any, from page 2, line 22

9 Combine amounts on lines 5 through 8. Enter here, and on the appropriate line as follows . Bee
(a) For all except individual returns: Enter the gain or (loss) shown on line 9, on the line provided for on the

return (Form 1120, etc.) being filed. See instruction F for specific line reference.

(b) For individual returns:

(1) If the gain or (loss) on line 9, includes losses which are to be treated as an itemized deduction on
Schedule A (Form 1040) (see instruction F), enter the total of such loss(es) here and include on
Schedule A (Form 1040), line 29—identify as “‘loss from Form 4797, line9(b)(1)". . 2 1 wwe
(2) Redetermine the gain or (loss) on line 9, excluding the loss (if any) entered on line 9(b)(1). Enter here
and on Form 1040, line 31 Fanaa

Form 4797 (1976)


Form 4797 (1976)

Page 2

Part Ill Gain From Disposition of Property Under Sections 1245, 1250, 1251,
1252, 1254—Assets Held More than Six Months (See Separate Instructions)
Disregard lines 18 and 19 if there are no dispositions of farm property or farmland, or if this form is filed by a partnership.

10 Description of sections 1245, 1250, 1251, 1252, and 1254 property:

Daie acquired
(mo., day, yt.)

Date sold
(mo., day, yt.)

Relate lines 10(A) through 10(D) to these columns > > > >

Property
(A)

11 Gross sates price
12 ost or other basis and expense of sale
13 Depreciation (or depletion) allowed (or allowable)

14 Adjusted basis, line 12 less line 13
15 Total_gain, line 12 less line 14

16 If section 1245 property:
(a) Depreciation alowed (or alowabe) after applicable date (see
instructions) . .

(b) Enter smaller of line 15 or 16(a)

17 If section 1250 property:

(a) Additional depreciation after 12/31/75

(b) Applicable percentage times the smaller of line 15 or tine o)
(see instruction G.4)

(c) Excess, if any, of line 15 over line 7) (itn line 15 does not exceed
line 17(a), omit lines 17(d) through 17(h), and enter the amount
from line 17(b) on line 17(i))

(d) Additional depreciation after 12/31/69 and before 16

(e) Applicable percentage times the smaller of line 17(c) or line 17(d)
(see instruction 6.4)

(f) Excess, if any, of line 17(c) over line 74 ( (If line 17) does not
exceed line 17(d), omit lines 17(g) and 17(h), and combine the
amounts on lines 17(b) and 17(e) on line 17(i))

(g) Additional depreciation after 12/31/63 and before 1/1/70

(h) Applicable percentage times the smaller of line 17(f) or 17(g)

(see instruction G4). .
(i) Add lines 17(b), 17(e), and. 17(h)

18 If section 1251 property:
(a) If farmland, enter soil, water, and land leering expenses fo for cur-
rent year and the four preceding years

(b) if farm property other than land, subtract line 16(b) from line 15;
if farmland, enter smaller of line 15 cr 18(a) (see instruction G.5)

(c) Excess deductions account (see instruction 6.5) .
(d) Enter smaller of line 18(b) or 18(c)

19 If section 1252 property:
(a) Soil, water, and land clearing expenses made after 12/31/69
(b) Amount from line 18(d), if none enter a zero
(c) Excess, if any, of line 19(a) over tine 19(b)
(d) Line 19(c) times applicable percentage (see instruction 6.5)
(e) Line 15 less line 19(b) .
(f)_Enter smaller of line 19(d) or 19%e)

20 If section 1254 property:
(a) Intangible drilling and development costs deducted after Decem-
ber 31, 1975 (see instruction 6.6) : .

(b) Enter smaller of line 15 or 20(a)

Summary of Part Il! Gains (Complete Property columns (A) through (D) through line 20(b) before goi

ing to line 21)

21 Total gains for all properties (add columns (A) through (D), line 15)

22 Add columns (A) through (D), lines 16(b), 17(i), 18(d), 19(f), and 20(b). Enter here and on line 7
23 Subtract line 22 from line 21. Enter here and in appropriate Section in Part | (see instructions E and G.2)

Fe US, GOVERNMENT PRINTING OFFICE. 1870—9-218-351