com 4797 Supplemental Schedule of Gains and Losses

Sales, Exchanges and Involuntary Conversions under 1977
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

HEZTINMME 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)

4. Cost or other basis,

2. ind of property (if necessary, b. Date acquired! c. Date sold |. Gross sates | .& Depreciation al. } cost of subsequent im: ‘
nal descriptive Date acquired) c. Date sol . Gross sales | towed (or allowable) | provements (if not. pur: £; Gain or loss
atgatale not shown below) (mo., day, yr.) | (mo., day, yr.) price ince acquisition’ | chased, attach explana. | plus ¢ less )

tion) and expense of sale

2 Combine the amounts on line 1. Enter here, and on the appropriate line as follows... . / 1 ee +
(a) For all except partnership returns:
(1) If line 2 is zero or a gain, enter that 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) Hi ling 4is 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) Mf line 4 is zero or a loss, enter that amount on line 6.

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

HEZUMIME Ordinary Gains and Losses

b 1 | feahost ether basis,
lb, Date acquired) c. Date sold | d. Gross sales iS for allo) cast of subsequent im:
Brovements (i not pur.
(mou, day, yt.) | (mo, day, yr.) price since acquisition | chased, attach explana-
tion) and expense of sale

‘8, Kind of property (if necessary,
attach additional descriptive
details not shown below)

or loss
fin in @ less f)

5 Amount, if any, from line 2(a)(2). 06 6 ee ee ee ee
6 Amount, if any, from line 4(a)(2). 0-6 ee
7 Gain, if any, from page 2, line 22. . 1 eee ee ee ee ee ee

9 Combine amounts on lines 5 through 8. Enter here, and on the appropriate line as follows . . . - - + +

(a) For all except individual returns: Enter the gain or (loss) shown on line 9, on the line provided for on the Y

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 the loss(es) here and include on Schedule
A (Form 1040), line 29—identify as “loss from Form 4797, line 9(b)(1)”- . 6. se
(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, line16. . . .

Ve

235-167-1 Form 4797 (1977)


Form 4797 (1977) Page 2

EGZXMLS «Gain From Disposition of Property Under Sections 1245, 1250, 1251,
1252, 1254—Assets Held More than Nine 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.

YO Description of sections 1245, 1250, 1251, 1252, and 1254 property: Date seauired, (me tt)

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

11 Gross sales price
12 Cost or other basis and expense of sale 2... . 1 1 ee
13 Depreciation (or depletion) allowed (or allowable)

14 Adjusted basis, subtract line 13 from line 12... . . 1s
15 Total gain, subtract line 14 from line 11... . . . - - -

16 If section 1245 property:
(a) Depreciation allowed (or allowable) after applicable date (see
instructions) © 6 6. ee ee

(b) Enter _smaller of line 15 or 16a)... - - . » ss
17 If section 1250 property:
(a) Additional depreciation after 12/31/75
(b) Applicable percentage times the smaller of line 15 or line 17(a)
(see instruction G.4)
(c) Excess, if any, of line 15 over line 17(a) (If line 15 does not exceed
line 17(a), skip 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 1/1/76 . . . |...
(e) Applicable percentage times the smaller of line 17(c) or line 17(4)
(see instruction 6.4)
(f) Excess, if any, of line 17(c) over line 17(d) (If line 17(c) does not
exceed line 17(d), skip lines 17(g) and 17(h), and combine the
amounts on lines 17(b) and 17(e) on line 17(i)) . . . - +e
(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) 2. - 2 ee ee ee ee
(i) Add lines 17(b), 17(e), and 17(-h) . . .

18 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 16(b) from line 15;

if farmland, enter smaller of line 15 or 18(a) (see instruction G.5)
(©) Excess deductions account (see instruction 6.5)... 6.
(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(4), if none enter a zero
(c) Excess, if any, of line 19(a) over line 19(b) . . . - . 2
(a) Line 19(¢) times applicable percentage (see instruction G.5) . .
(e) Subtract fine 19(b) from line 15... 2. 2 ee
(f)_Enter smaller of line 19(d) or 19(e) . . . . - - . - .

20 If section 1254 property:
(a) Intangible drilling and development costs deducted after 12/31/75
(see instruction G6)... 6 ee eee ee ee
(b) Enter smaller of line 15 or 20(a)_. . . ss ss es

Summary of Part III Gains (Complete Property columns (A) through (D) through line 20(b) before going 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)
‘US. GOVERNMENT PRINTING OFFICE: 1977-0-235-167 235-167-1