. 4797 Supplemental Schedule of Gains and Losses

Sales, Exchanges and Involuntary Conversions under Sections 1231, 1245, 1250, etc. 1971
Department of the Treasury
Internal Revenue Service To be filed with Form 1040, 1041, 1065, 1120, etc.—See Instruction A
Name Identifying number as shown on page 1
of your return

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

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

dof “ | t Gost or other basis,
‘ind of property (if necessary, 6. Depreciation al- | cost of subsequent im-
ach statement of descriptive by, Date acquired) (c, Date sold, | 4. Gross sales | Sue Gor allowable) | rovements

details not shown below) er day, Yr vr ayy since acquisition | chased, attach exy
tion) and expense: er sale

& Gain or (loss)
(d plus @ less f)

2 Combine the amounts on line 1, enter here and also on the appropriate line as follows .
(a) For all returns, except partnership returns:
(1) Ifline 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, on line 10, Schedule K (Form 1065).

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

4 Combine the amounts on line 3, enter here and also on the appropriate line as follows .
(a) For all returns, except partnership returns: ——
(1) If line 4 is a gain, enter such gain as a long-term capital gain on the Schedule D (Form 1040, 1120, etc.) that is
being filed—see instruction D.
(2) If line 4 is zero or a loss, enter such amount on line 6.
(b) For partnership returns: Enter the amount shown on line 4, on line 9, Schedule K (Form 1065).

Ordinary Gains and Losses

i i . Cost or other basi
tir ntoeseaty atagh statement of o- ¢. Date sold | d. Grose sales | SyedYor allowable) | Sosa subsequ &, Gain or (loss)
scriptive details nat shown below) (mmo., day, yt) price ince acquisition | Improvements and (plus @ less 1)
5 Amount, if any, from line 2(a)(2) 2 6 we
6 Amount, if any, from line4(a)(2) 2 6 6 ee

7 Gain, ifany,fromline21 2. ww we ee
8

9 Combine lines 5 through 8, enter here and also on the appropriate line as follows

(a) For all returns, except individual returns: Enter the gain or (loss) shown on line 9, on the line provided Y)
for on the return (Form 1120, etc.) being filed—see instruction E, 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 E), enter the total of such loss(es) here and on line 26,
Schedule A (Form 1040)—identify as loss from line 9(b)(1), Form 4797

(2) Redetermine the gain or (loss) on line 9, excluding the loss a any) e entered on line 30010, Enter
here and on line 36, Form 1040 .

16—81708-1


Form 4797 (1971) Page 2

Gain From Disposition of Property Under Sections 1245, 1250,
1251, 1252—Assets Held More Than Six Months (See Instruction F)
Lines 18 and 19 should be omitted if there are no dispositions of farm property or farm land; or, if this form is filed by a partnership.

10 Description of sections 1245, 1250, 1251, and 1252 property: Date acquired met
(A).

«)

Correlate | 10(A) through 10 Pro] Pro| Pi Pi | Propert

wie res eo” to “Oy oh
11 Gross sales price. . - :

12 Cost or other basis and expense of of sale .
13 Depreciation allowed (or allowable) .
14 Adjusted basis, line 12 less line 13 .
15 Total gain, subtract line 14 from line 11

16 If section 1245 property:
(a) Depreciation Hlowed (or allowable) after
applicable date (see instructions) .
(b) Line 15 or line 16(a), whichever is smaller
17 If section 1250 property:
(a) Enter additional depreciation after
12/31/63 and before 1/1/70. . «

(b) Enter additional depreciation after
12/31/69. . -

(c) Enter line 15 or line M0), whichever is is
smaller .

(A) Line 17(¢) tines applicable percentage
(see instruction F.4) . .

(e) Enter excess, if any, of line 15 over

line 17(b) - . ee ee es
(f) Enter line 17(a) or tine We, whichever
is smaller. .

(2) Line 17) times applicable percentage
(see instruction F.4)
(h)_Add line 17(d) and line 17@ owe

18 If section 1251 property:
(a) If farm land, enter soil, water, and land
clearing expenses for current year and
‘the four preceding years .

(b) If farm property, other than land, sub-
tract line 16(b) from line 15; OR, if farm
land, enter line 15 or line 18(a), which-
ever is smaller (see instruction F.5) .

(c) Excess deductions account (see instruc-
tion F.5) .

(d) Enter line 18(b) or line 18(0), w whichever
issmaller.
19 If section 1252 prop perty:
(a) Soil, water, and land dlearing expenses
made after 12/31/69 .

(b) Enter amount from line 18(d), if any:
otherwise, enter a zero. . .

Enter excess, if any, of line 19(2) over
line 19)... |

(©)

(2) Line 19(c) times applicable percentage
(See instruction F.5)

(e) Line 15 less line 19(b) .  .
(f)_Enter smaller of line 19(d) or fine 19(e) I I

Summary of Part Ill Gains (Complete Property columns (A) through (E) up to line 19(f), before going to line 20)

20 Total of Property columns (A) through (E), line15. . 2. _
21 Total of Property columns (A) through (E), lines 16(b), 17(h), 18), and ‘9. “Enter here and on line 7
22 Subtract line 21 from line 20. Enter here and in appropriate Section in Part | (see instructions D and F.2)

‘¥¢ US, GOVERNMENT PRINTING OFFICE; 1971—O-418-129 16—81708-1