com 4797 Supplemental Schedule of Gains and Losses

(Includes Gains and Losses from Sales or Exchanges of Assets
Department of the Treasury Used in a Trade or Business and Involuntary Conversions) i
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

MEZYSMMM 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)

Kind of property (if neces 4. Gross sal Depreciation ar. |) foe esty etter basis,
a. Kind of property (if necessary, i . Gross sales | e. Depreciation al- | and cost of subsequen
attach additional descriptive b, Date acquired] c. Date sold price less lowed (or allowable) | improvements (if not

g. Gain or loss
details not shown below) (mou, day, yr.) | (mor day, ¥"-) | expense of sale | “since acquisition

(@ plus e less 1)

2 Gain, if any, from line 25, Part Ill 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) Ifline 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 Sec-
tion A) (See Instruction F)

5 Gain, if any, from line 25, Part III on back of this form attributable to other than casualty and theft .
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

(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, d. Gross sales | e. Depreciation al- | cost of subsequent

b. Date acquired} c. Date sold 6:
attach additional descriptive price less lowed (or allowable) | provements (if not pur- £, Gain or toss
details not shown below) (mo., day, yr-) | (mmo., day, ¥t-) | expense of sale | “since acquisition. | chased, attach not pu (d plus e less f)
tion)
7 Amount, if any, from line 3(a)(2). 0. 0. ee

8 Amount, if any, from line 6(a)(2). 6 6 ee ee ee

9 Gain, if any, from line 24, Part IIlon back of this form. . . 2. . . - eee
10 Other ordinary gains and losses:

11 Combine amounts on lines 7 through 10. Enter here, and on the appropriate line as follows. . .
(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 and include on Sched-

ule A (Form 1040), line 29—identify as “‘loss from Form 4797, line 11(b)(1)”. . ee we ee
(2) Redetermine the gain or (loss) on line 11, excluding t the loss ss Gf any) entered on line 11(b)(1). Enter
here and on Form 1040, line 16. 0... . Ce ee ee ey

263-166-1 Form 4797 (1978)


Form 4797 (1978) Page 2

Eg Gain From Disposition of Property Under Sections 1245, 1250, 1251,
1252, 1254—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, and 1254 property: ene seaulted, nn'g sy

(D)

Relate lines 12(A) through 12(D) to these columns > > > roy Propsty Proasy Props
13 Gross sales price less expense of sale. . - - + + ee #
14 Cost or other basis... ee
15 Depreciation (or depletion) allowed (or allowable). . - . we
16 Adjusted basis, subtract line 15 from line 14. . . 2 6 w ®
17 Total_gain, subtract line 16 {rom line 13. we ee
18 If section 1245 property:

(a) Depreciation allowed ter allowable) after applicable date (see

instructions) . . . soe ee
(b) Enter smaller of line W or "18(a) . Fe ee

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). . . - woe eee
(c) Subtract line 19(a) from line 17 (If ‘ine v is not more than
line 19(a), skip lines 19(d) through 19(h), and enter the amount
from line 19(b) on line 19()). . . - - oe
(d) Additional depreciation after 12/31/69 and before ye. woe
(e) Applicable percentage times the smaller of line 19(c) or 19(d)
(see instruction H.4). 0. 6 1 2 ee eee
(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), and combine the amounts
on lines 19(b) and 19(e) on line 19(i)). . . se
(g) Additional depreciation after 12/31/63 and before 70 a
(h) Applicable percentage times the smaller of line 19(f) or 19(g)

(see instruction H4) . es
(i)_Add lines 19(b), 19(e), and 19(h) . eee

20 If section 1251 property:
(a) If farmland, enter soil, water, and land clearing expenses for cur-
rent year and the four preceding years. . . 2. + +

(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) . . + + + + + =
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. . . .
(c) Subtract line 21(b) from line 21(a). (If line 21(b) is more than
line 21(a), enter zero). . . « se
(d) Line 21(c) times applicable percentage (see instruction a ) a’

(e) Subtract line 21(b) from line 17. 2 1 ee ee
(f)_Enter smaller of line 21(d) or 21(e). . - +

22 If section 1254 property:
(a) Intangible drilling and development costs deducted after 12/31/75
(see instruction H.6) . So ee ee
(b) Enter smaller of line 17 or 2210) «

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). . . » «+ « : rr ~
24 Add columns (A) through (D), lines 18(b), 19(i), 20(d), 21(f), and 22(b). Enter here and on Part u, tine9 see

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

2:

x

‘4 US. GOVERNMENT PRINTING OFFICE : 1978~O-263-166 263-1661