47 9 7 Sales of Business Property [OMB No. 1585-0184
Form

(Also, Involuntary Conversions and Recapture Amounts Under 1990
Department of the Treasury Sections 179 and 280F) Attachment
Internal Revenue Service (0) > Attach to your taxreturn. Pb See separate Instructions. Sequence No. 27,
Name(s) shawn 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 ! Year

1 Enter here the gross proceeds from the sale or exchange of real estate reported to yeu for 1990 on Form)

1099 (or a substitute statement) that you willbe including on line2, 10,020 eee fd
{e) Depreciation cost ‘orother

(a) Description of | (b) Date acquired | (¢) Date sold (@) Gross sales ered c basis, plus eS he Gans,

property (mo., day, yr.) (mo., day, yr.) price or allowable improvements and sum of (d) and (e)) minus (1)

since acquisition | expense of sale

i
3 Gain, if any, from Form 4684, Section B,line21 . . ee?
4 Section 1231 gain from installment sales from Form 6252, line 2 or +30 soe ee
5 Gain, if any, from line 32, from other than casualty and theft .
6 Add lines 2 through 5 in columns (g) and (h) wo
7 Combine columns (g) and (h) of line 6. Enter gain or (loss) here, and on the appropriate line re.as follows: Soe ee ee
Partnerships.—Enter the gain or (loss) on Form 1065, Schedule K, line 6. Skip lines 8, 9, 11, and 12 below,
‘S corporations.—Report the gain or (loss) following the instructions for Form 1120S, Schedule K, lines 5 and 6. Skip lines 8, 9,
11, and 12 below, uniess line 7 is a gain and the S corporation is subject to the capital gains tax.
All others. —Hf line 7 is zero or a loss, enter the amount on line 11 below and skip lines 8 and 9. If line 7 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 8, 9, and 12 below.
8 Nonrecaptured net section 1231 losses from prior years (see Instructions)... toe toe ee
9 Subtract line 8 from line 7. If zero or tess, enter -0-. Also enter on the appropriate line as follows (see instructions): . _
'$ corporations. —Enter this amount (if greater than zero) on Form 1120S, Schedule D, line 7, and skip lines 11 and 12 below.

All others. —If line 9s zero, enter the amiount from line 7 on line 12 below. if line 9 is more than zero, enter the amount from
line 8 on tine 12 below, and enter the amount from line 9 as a long-term capital gain on Schedule D.

GEG] Ordinary Gains and Losses

10 Ordinary gains and losses not included on lines 11 through 16 (include property held 1 year or less):

11 Loss, ifany,fromline7. . . 2 . woe
12 Gain, if any, from line 7, or amount from fine ‘8 it applicable ery
13 Gain, ifany, fromiine31. ee
14 Net gain or (toss) from Form 4684, Section B. lines 13 and 20a eT
15. Ordinary gain from installment sales from Form 6252, line2lor29. 2 1 . cr
16 Recapture of section 179 deduction for partners and S corporation shareholders from n property ipso by
partnerships and S corporations (see Instructions)... an toe
17 Add lines 10 through 16 incolumns(g)and(h). . 2 1. wee see ee
18 Combine columns (g) and (h) of fine 17. Enter gain or (loss) here, and on the appropriate lineasfollows: . 5...
a For all except individual returns: Enter the gain of (loss) from line 18 on the return being filed.
b For individual returns:
(1) If the loss on tine 11 includes a loss from Form 4684, Section B, Part II, column (b)(ii), enter that part of the loss here and
‘on line 21 of Schedule A (Form 1040). identify as from “Form 4797, line 18b(1)". See Instructions .
(2) Redetermine the gain or (loss) on line 18, excluding the joss, if any, on line 18b(1). Enter here and on Form 1040, ‘ine 15

For Paperwork Reduction Act Notice, see page 1 of separate Instructions. Form 4797 (2990)



Form 4797 (1990) Page 2
EQUI Gain From Disposition of Property Under Sections 1245, 1250, 1252, 1254, and 1255

19 Description of section 1245, 1250, 1252, 1254, and 1255 property: bathe nit (me Garey
A
B
¢
DB
Property Property Property Property
Relate lines 198 through 19D to these columns > A B c D

20° Gross sales vice (Note: See /ine 1 before completing.)

21 Cost or other basis plus expense of sale .

22 Depreciation (or depletion) allowed or allowable

23 Adjusted basis. Subtract line 22 from line 21 Le

24 Total gain. Subtractline 23 fromline20.. . . - 1

25 If section 1245 property:
a Depreciation allowed or allowable fromline22. 0.0. 6 6 6
b Enter the smaller ofline24or25a_. . ss

26 If section 1250 property: If straight ine depreciation was used, enter
zero on line 26g unless you are a corporation subject to section 291.

@ Additional depreciation after 12/31/75 (see Instructions)

b Applicable percentage multiplied by the smaller of line 24 or line
26a (see Instructions)... toe a

Subtract line 26a from line 24. If line 24 is not more than line 26a,
skip lines 26d and 26e. .

4 Additional depreciation after 12/31/69 and before 1/1/76 tos

Applicable percentage multiplied by the smaller of line 26¢ or 26d
(see Instructions). . .

f Section 291 amount corporations on) 5 | |),

& Addlines 26b,26e,and26f_. . . .

27 ifsectlon 1252 property: Skip this section if you did not dispose of
farmland or if you are a partnership.

°

& Soil, water, and land clearingexpenses.. 5. 1. 7 1 ee
b Line 27a multiplied by applicable percentage (see Instructions). .
¢_Enter the smaller of line 24 or 27b en

28 If section 1254 property:
@ Intangible drilling and development costs, expenditures for development of mines
‘and other natural deposits, and mining exploration costs (see Instructions) .
b_ Enter the smaller of line24or28a_. . sss

29 If section 1255 property:

@ Applicable percentage of payments excluded from income under
section 126 (seeInstructions), ©. 2. 6. we

b_ Enter the smatier offine 24 or29a_ |.

Summary of Part Ill Gains (Complete property columns A through D, through line 29b before going to line 30.)

30 Total gains for all properties. Add columns A through D,line24. 5 2 1 1. we foe toe .

31° Add columns A through D, lines 25b, 26g, 27¢, 28b, and 29b. Enter here and on line 13. (See the Instructions for Part IV if this is
aninstallmentsale) 20.06 6 ee ee ee ee

32 Subtract line 31 from line 30. Enter the portion from casualty and theft on Form 4684, Section B, line 15. Enter the partion from
other than casualty and theft on Form 4797,line5 . » . .

EET Election Not to Use the Installment Method (Complete this part only if you ‘elect ‘out of the installment method

and report a note or other obligation at less than full face value.)

33° Checkhere if you elect out of the installment method. 6 5 ee ee ee ee PO
34 Enter the face amount of the note or other obligation... Be a $
35 Enter the percentage of valuation of the note or other obligation . _ %

Recapture Amounts Under Sections 179 and 280F When Business Use Drops to 50% 0 or tess
(See Instructions for Part V.)

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

36 Section 179 expense deduction os section 280F recoverydeductions ©... - ee ee ee
37 Depreciation or recovery deductions (see Instructions) . . oo : wee
38 __Recapture amount. Subtract line 37 from fine 36, (See Instructions for where to report).

+£U.8.GP0;1990-0.265-341