3. Complete Moab Inc.'s Form 4797 for the year. (Input all the values as positive numbers. Use 2020 tax rules regardless of year on tax form.) 4797 Page 1 4797 Page 2 OMB No. 1545-0184 Form 4797 Sales of Business Property (Also Involuntary Conversions and Recapture Amounts Under Sections 179 and 280F(b)(2) Attach to your tax rebum Go to www.is.govi Fom4797 for instructions and the latest information 2019 Department of the Treasury Internal Revenue Service Attachment Sequence No. 27 Identifying number (Enter at XL-XXXXXXX) Names) shown on room Moab Inc 1 Enter the gross proceeds from sales or exchanges reported to you for 2019 on Forms) 1009-B or 1099-5 (or substitute statement that you an including online 2, 10, or 20. see instructions Parti Sales or Exchanges of Property Used In a Trade or Business and involuntary Conversions From Other Than Casualty or Theft-Most Property Held More Than 1 Year(see Instructions) a) Description of property (b) Date Acourad (mo. day yr. c) Date soldimo Cay, Mr.) e) Depreciation 1) Cost or other basis, (Gross sales price allowed or allowable plus improvements and since acquisition expense of sale (9) Gain or loss) Subtract from the Sum of (d) and 3 Gain, if any, from Forn 4984, Ina 39 4 Section 1231 gain from installment sales from Form 6252 line 25 or 37 5 Section 1231 gain or loss from liko-kind exchanges from Form 8924 & Gain, if any, from In 32, from other than casualty or theft 7 Combine lines through 6. Enter the gain or los here and on the appropriate line as follows Partnerships and corporations. Report the gain or loss) following the instructions for Form 1065, Schedule K line 10or Form 1120-5. Schedule K, line 9. Skipines 8, 9, 11, and 12 below. Individuals, partners, corporation shareholders, and all others. I line 7 is zero ar a loss, enter the amount from line 7 on ine 11 below and skipines 8 and 9. line 7 is again and you didn't have any prior year section 1231 losses, or they were recaptured in an earlier year, enter the gain from line 7s a long-term capital gain on the schedule fled with your return and skipines 8, 9, 11, and 12 below 8 Nonrecaptured net section 1231 losses from prior years. see instructions. Subtract line from line 7. If zero or less enter. If in 9 is zera, enter the gain from line 7 on line 12 below. If in 9 is more than zero, enter the instructions amount from ine on line 12 below and enter the gain from ineas a long-term capital gain on the schedule D filed with your rebum. See Part II Ordinary Gains and L08299 (889 Instructions) 10 Ordinary gains and losses not included on lines 11 through 16 (include property hold 1 year or less 0 15 11 Loss any, from line 7 Enter as negativa) 11 12 Gain, if any, Promine 7 or amount from line 8. I applicable 12 13 Gain, if any, from In 31 13 14 Niet gain or loss from Form 4584. Ines 31 and 38a 15 Ordinary gain from installment sales from Form 6252 line 25 r 36 16 Ordinary gain or (os) from like kind exchanges from Form8824 16 17 Combine lines 10 through 16 17 18 For all except individual retums, enter the amount from line 17 on the appropriate line of your retum and skip lines a and below. For individual returns, complete lines a and below. a If the loss on line 11 includes a loss from Form 4684. line 35.column binenter that part of the loss her. Enter the loss from income producing property on Schedule A Form 1040 or Form 1040-SR), line 16. (Do not include any loss on property used as an employee.) lentity as trom "Form 4797, line 18a." See instructions 18a b Rodetermine the gain or loss) on line 17 excluding the loss, if any, on line 18a. Enter here and on Schedule 1 Form 1040 or Form 1040-SR). Part line 4 18 For Paperwork Reduotion Act Notice, che separate Instruction Cat No. 130861 THIB FORM 18 A SIMULATION OF AN OFFICIAL U.B. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIB FORM FOR TAX FILING 3 OR FOR ANY PURPO BE OTHER THAN EDUCATIONAL 2020 MoGraw-Hill Education. Form 4707 (2016) 4797 Page 1 4797 Page 2 Page 2 of Form 4797. For 4797 (2019) Page 2 Part III Gain From Disposition of Property Under Sections 1245, 1250, 1252, 1254, and 1255 (See Instructions) 19 (a) Description of section 1245, 1250, 1252, 1254, or 1256 property (b) Date acquired (c) Date sold B 0 These columns relate to the properties on ines 19A through 190. Property A Property B Property Property D 20 Grass sales price (Note: See line before completing.) 20 21 Cost or other basis plus expense of sale 21 22 Depreciation for depletion allowed or allowable 22 23 Adjusted basis. Subtractine 22 from line 21 23 24 Total gain. Subtractine 23 from ine 20 25 if section 1245 property a Depreciation allowed or alowable from ina 22 Enter the smaller at line 24 or 25 26 It section 1250 property. It straight ine depreciation was used, anter-O-on line 25, except for a corporation subject to section 291. a Additional depreciation after 1975. see instructions. 260 b Applicable percentage multiplied by the smaller of ina 24 or line 26a. See instructions 26b Subtract line 26 from in 24. if residential rental property or line 24 isn't more than line 26 skip lines 26 and 260 260 d Additional depreciation after 1969 and before 1976 260 Enter the smaller of line 26c or 26d 260 Section 291 amount (corporations only) 261 9 Add Ines 200, 200, and 20+ 269 27 it section 1252 property. Skip this section if you didnt dispose of farmland or it this form is being completed for a partnership a Soil, water, and land dearing Apenses 27 Line 27a multiplied by applicable percentage. See instructions 27 c Enter the smaller of line 24 of 275 270 28 It section 1254 property. a Intangible drilling and development costs, expenditures for development of mines and other natural deposits mining exploration costs, and depletion. See instructions Enter the smaller of ine 242 28 29 if section 1266 property a Applicable percentage of payments excluded from income under section 126. See instructions Enter the smaller of line 24 or 29 See instructions 290 Summary of Part Ill Galne. Complete property columns A through through line 296 before going to line 30. 30 Total gains for all properties. Add property columns Athrough Dine 24 31 Add property columns Athrough lines 25, 26, 27, 28, and 29. Enter here and on line 13 32 Subtract line 31 from line 30. Enter the portion from salty or theft on Form 4584, line 33. Enter the portion from other than casualty or theft on Form 4797, line 6 22 Part IV Recapture Amounts Under Sections 179 and 280F(b)(2) When Business Use Drops to 50% or Less (880 Instructions) (a) Section 170 (b) Section 280FDX2) 33 Section 179 exponse deduction or depreciation allowable in prior years 33 34 Recomputed depreciation. Son instructions 35 Recapture amount. Subtract line 34 from line 33. See the instructions for where to report 35 UYA Form 4797 [2018] THIB FORM 18 A SIMULATION OF AN OFFICIAL U.2. TAX FORMLIT 18 NOT THE OFFICIAL FORMIT BELF. DO NOT USE THIB FORM FOR TAX FILING 3 OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL 2020 Moraw-Hill Eduoation 30 0 O O Reg 1 Req 2 From the recognized gains/losses determined in part 1, determine the net $1231 gain/loss, the net ordinary gain/loss, and the net capital gain/loss Moab will recognize on its tax return. Moab Inc. also has $2,000 of nonrecaptured net $1231 losses from previous years. (Loss amounts should be indicated by a minus sign.) $ $1231 Netting Process: $1231 gain $1231 loss Net $1231 gain Nonrecaptured $1231 losses Net $1231 gain $ $ $ 29,1001 0 100 2,000 27,100 $ $ Ordinary Income: $1245 recapture $291 recapture Ordinary income Ordinary loss Ordinary income from $1231 netting Total $ A A A A 17,000 3,000 2,000 (870) 2,000 23,130 $ $ $ Capital Gains and Losses: Capital gain Capital loss Net capital gain $ 27,750 (4,000) 23,750 $ Reg 1 Req 2 From the recognized gains/losses determined in part 1, determine the net $1231 gain/loss, the net ordinary gain/loss, and the net capital gain/loss Moab will recognize on its tax return. Moab Inc. also has $2,000 of nonrecaptured net $1231 losses from previous years. (Loss amounts should be indicated by a minus sign.) $ $1231 Netting Process: $1231 gain $1231 loss Net $1231 gain Nonrecaptured $1231 losses Net $1231 gain $ $ $ 29,1001 0 100 2,000 27,100 $ $ Ordinary Income: $1245 recapture $291 recapture Ordinary income Ordinary loss Ordinary income from $1231 netting Total $ A A A A 17,000 3,000 2,000 (870) 2,000 23,130 $ $ $ Capital Gains and Losses: Capital gain Capital loss Net capital gain $ 27,750 (4,000) 23,750 $