Frank Willingham has the following transactions during the year:

Sale of office equipment on March 15 that cost $27,600 when purchased on July 1, 2015. Frank has claimed $5,520 in depreciation and sells the asset for $16,560 with no selling costs.

Sale of land on April 19 for $128,800. The land cost $141,680 when purchased on February 1, 2006. Frank's selling costs are $25,760.

Assume there were no capital improvements on either business asset sold. Frank's Social Security number is 924-56-5783.

Complete Form 4797 to report the above gains or losses.

Enter all amounts as positive numbers except for a "loss". If required, enter a "loss" as a negative number on the tax form. If an amount is zero, enter

Frank Willingham has the following transactions during the year:

Sale of office equipment on March 15 that cost $27,600 when purchased on July 1, 2015. Frank has claimed $5,520 in depreciation and sells the asset for $16,560 with no selling costs. Sale of land on April 19 for $128,800. The land cost $141,680 when purchased on February 1, 2006. Frank's selling costs are $25,760.

Assume there were no capital improvements on either business asset sold. Frank's Social Security number is 924-56-5783.

Complete Form 4797 to report the above gains or losses.

Enter all amounts as positive numbers except for a "loss". If required, enter a "loss" as a negative number on the tax form. If an amount is zero, enter

the following is a link for form 4797

https://www.irs.gov/pub/irs-pdf/f4797.pdf