Find and prepare PDF versions of the following IRS forms and Schedules, if applicable:

Form $4797,$ Form $6252,$ and Form $8824($page $2$ only$)$

Schedule D and Schedule $1($page $1$ only$)$

Name: Dr$.$ John Doe

SSN: $333-33-3333$

Address: $333$ Any Street, Anytown, CA $90000$

Summary:

Dr$.$ John Doe $($Dr$.$ DOE$)$ has been a medical doctor for many years. Since $2002,$ Dr$.$ DOE had his own

medical practice $($the Practice$).$ The Practice uses the cash$-$basis accounting method and operates as a sole

proprietorship. According to Dr$.$ DOE's last income tax filings, the Practice had several business assets

$($details below$).$ In the current tax year, Dr$.$ DOE decides to retire from medicine to pursue a career as a

long$-$haul trucker. Dr$.$ DOE sold the Practice and all of its assets to a physician group for $$3,000,000$

in cash and a short term note for $$500,000).$ The note will be paid over $13$ months $(12$

months in the next tax year and $1$ month this tax year$).$ The payment this tax year will be an interest only

payment of $$25,000.$ All other payments are principle only. Dr$.$ DOE would like to invest the cash

proceeds from the sale in: $1)$ commercial real estate; and $2)$ machinery and equipment for his new trucking

business. The remaining funds will be used as working capital for Dr$.$ DOE's new trucking business and for

personal expenses.

The Practice has the following long$-$term assets just prior to the sale to the physician group:

Accounts Receivable from Patients $($all older than $1$ year$)$: Book Value: $$30,000$;$FMV=$

$$10,000$

Medical Equipment: Cost Basis $=$$$200,000$; Adjusted Basis $=$$$20,000$; FMV $=$$$110,000$

Office Equipment & Furniture: Cost Basis $=$$$50,000$; Adjusted Basis $=$$$0$;$FMV=$$$10,000$

Medical Office: Cost Basis $=$$$800,000$; Adjusted Basis $=$$$400,000$;$FMV=$$$2,000,000$; Debt

$$0$

Customer Lists and Goodwill: Cost Basis $=$$$0$; Adjusted Basis $=$$$0$; FMV $($TBD by student$)$

Dr$.$ DOE would like to elect to defer recognition of the gain in his building through a Section $1031$

exchange. Dr$.$ DOE timely identified replacement property $($a small strip mall$)$ with a FMV of $$1,800,000.$

DOE will purchase the replacement property through a transfer in escrow of the sale's cash proceeds.

Note: When preparing DOE's current year tax return, please make any and all elections that will give DOE

the lowest total income tax. For simplicity purposes, please $1)$ complete only page $2$ of Form $8824$ and

assume all required dates$/$notices were timely; and $2)$ complete only page $1$ of Schedule $1.$