4 7 9 7 Gains and Losses From Sales or Exchanges of Assets Used in a [22 No. 1545.0184
Form Trade or Business and Involuntary Conversions 1 9 86

(And Computation of Recapture Amounts Under Sections 179 and 280F)

Department of the T
Internal Revenue Service > Attach to your tax return. See Separate Instructions. Meee No, 27
Name(s) as shown on return Identifying number
Sales or Exchanges of Property Used in a Trade or Business and Involuntary Conversions From Other Than
Casualty and Theft—Property Held More Than 6 months
Notes: @ Use Form 4684 to report involuntary conversions from casualty and theft.
© If you sold property that you claimed investment credit on, get Form 4255 to see if you are liable for recapture of the credit.
© File Form 6198 if you are reporting a loss and have amounts invested in the activity for which you are not at risk. (See instructions
under ‘‘Special Rules."’)
(e) Depreciation | (1) Castor other
(2) Description of | (by Dateacauired | (c)Date sold, (d) Gross sales eee, basis, plus (eins tne Gane
ro ‘mo., day, . day, improvements an
proery | emoveayary | (ead wee | sraionani, | mmrerrsan | a Sefiandten | “east
1
2 Gain, if any, from Form 4684, Section B,line21. . . . rs
3 Section 1231 gain from installment sales from Form 6252, line 22 or 30. So ]
4 Gain, if any, from Part Il, line 31, from other than casualty and theft . /,
¢ y

5 Add lines 1 through 4 in columns (g)and(h) .
6 Combine columns (g) and ¢h) of line 8. Enter gain or (oss) here, and on the ne speopriate| line as follows (artnet see the
instructions for your line references): : : a

If line 6 is zero or a loss, enter the amount on line 10 below and skip lines 7 and 8. (S corporations, enter the loss on Schedule K
(Form 1120S), line 5.) If line 6 is a gain and you did not have any prior year section 1231 losses or they were recaptured in an
earlier year, enter the gain as a long-term capital gain on Schedule D and skip lines 7 and 8.
7 Nonrecaptured net section 1231 losses from prior years. (See instructions.) 2 2. 6 6 ee ee
8 Subtract line 7 from line 6. If zero or less, enter zero

If line 8 is zero, enter the amount from line 6 on line 11 below. If line 8 is more than zero, enter the amount trom line 7 on nine n below, and enter the

amount from line 8 as a long-term capital gain on Schedule D. See specific instructions for line 8.

| Part II] Ordinary Gains and Losses

(e) Depreciation | (f) Cost or other (Loss
(epDescinton ot | (pDate acquired | {c)Datesald | (Gross sales ond basis nlus | csShinus the
property ‘mo., day, yr.) (mo., day, yr price or allowable) | improvements an
since acquisition | expense of sale | SUT Of (@) and(e))

(h) GAIN
(Cd) plus (e)
minus (f))

9 Ordinary gains and losses not included on lines 10 through 15 (include property held 6 months or less ):

10 Loss, ifany,fromline6. . .

11 Gain, if any, from line 6, oramount from line 7 if applicable.

12 Gain, ifany, fromline 30, Parti... ee Lf

13 Net gain or (loss) from Form 4684, Section B, lines 13 and 20a

14 Ordinary gain from installment sales from Form 6252, line(s) 21 and/or 29...
15 Recapture of section 179 deduction for partners and S corporation shareholders from property dispositions by
partnerships and S corporations. (see instructions)... :

16 Add lines 9 through 15 incolumns(g)and(h) . . . « - .

17 Combine columns (g) and (h) of line 16. Enter gain or (loss) here, and ‘on the appropriate line as follows:
a For all except individual returns: Enter the gain or (loss) from line 17, on the return being filed. See instructions for Part Il for
specific line references.

b For individual returns:
(1) If the loss on line 10 includes a loss from Form 4684, Section B, Part II, column (b)(ii), enter that Part of the loss here and
‘on line 19 of Schedule A (Form 1040). Identify as from “Form 4797, line 17b(1)" . .

I

(2) Redetermine the gain or (loss) on line 17, excluding the loss (if any) on line 17b(1). Enter here and on Form 1040,1 line 15,

For Paperwork Reduction Act Notice, see page 1 of separate instructions.

Form 4797 (1986)


Form 4797 (1986) Page 2

Gain From Disposition of Property Under Sections 1245, 1250, 1252, 1254, and 1255
Skip section 1252 on line 26 and in the instructions if you did not dispose of farmland or if you are a partnership.

18 Description of sections 1245, 1250, 1252, 1254, and 1255 property: roarainea’ ny
A
B
c
D
Property Property Property Property
Relate lines 18A through 18D to these columns: >rPpre A B c D

19 Grosssalesprice . . . Lo

20 Cost or other basis plus expense e of sale .

21 Depreciation (or depletion) allowed (or allowable) .

22 Adjusted basis, subtract line 21 from line 20

23 Total gain, subtractline 22fromline19__.

24 Ifsection 1245 property:
a Depreciation allowed (or allowable) (See instruction) se
b_Enter smaller of line 23 or 24a

35 if section 1250 property: (I straight line depreciation was used, enter
zero on line 25g unless you are a corporation subject to section 291.)
‘a Additional depreciation after 12/31/75 . foe

b Applicable percentage times the smaller of line 23 or line 25a (see
instructions). rr

c Subtract line 25a from line 23. If line 23 is not more than line 25a,
skip lines 25d and 25e. .

d_ Additional depreciation after 12/31/69 and before 1/76 .
e Applicable percentage times the smaller of line 25c or 25d (see
instructions)... Se
Section 291 amount (For corporations only.)
& Add lines 25b, 25e, and 25f_. :
26 If section 1252 property:
a Soil, water, and land clearingexpenses . . Loe
b Line 26a times applicable percentage (see instructions)
¢_Enter smaller of line 23 or 26b
27 If section 1254 property:

a Intangible drilling and development costs deducted after
12/31/75 (see instructions) . soe
b_Enter smaller of line 23 or 27a
28 If section 1255 property:
a Applicable percentage of payments: excluded from income under
section 126 (see instructions) . . Dee
b_Enter the smaller of line 23 or 28a

Summary of Part Ill Gains (Complete property co columns A ‘through D through line 28b before going to line 29)

29° Total gains for all properties (add columns A through D,line23) . . 1 1 ew ee

30 Addcolumns A through D, lines 24b, 25g, 26c, 27b, and 28b. Enter here and in Part Il, line 12

31. Subtract line 30 from line 29. Enter the portion from casualty and theft on Form 4684, Section B, line 15; enter rthe potion from
other than casualty and theft on Form 4797, Part, line 4.

Complete This Part Only if You Elect Out of the Installment Method and Report z a Note or Other Obligation at
Less Than Full Face Value

Check here if you elect out of the installmentmethod. 2 6 6 ee ee Oo
Enter the face amount of the note or other obligation P __.......-.--.----------------------- 2-22 eee ee eee ne nee ee ee eee eee eee eee
Enter the percentage of valuation of the note or other obligation >

Computation of Recapture Amounts Under Sections 179 and 280F When Business Use Drops to 50% or Less
(See instructions for Part V.)

(a) Section 179 | (b) Section 280F

1 Section 179 expense deduction or section 280F recoverydeductions . 2. 2. 2 ee es
2. Depreciation or recovery deductions (see instructions) . . .
3__Recapture amount. (Subtract line 2 from line 1. See instructions for where to report: )