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Here is the answer since I can't post it any other way. FORM 4797 COMPLETED. All answers should show except the name of the company

Here is the answer since I can't post it any other way. FORM 4797 COMPLETED. All answers should show except the name of the company on page 1.

Moab Inc. manufactures and distributes high-tech biking gadgets. It has decided to streamline some of its operations so that it will be able to be more productive and efficient. Because of this decision it has entered into several transactions during the year. (Do not round intermediate computations.)

  1. Moab Inc. sold a machine that it used to make computerized gadgets for $27,300 cash. It originally bought the machine for $19,200 three years ago and has taken $8,000 in depreciation.
  2. Moab Inc. held stock in ABC Corp., which had a value of $12,000 at the beginning of the year. That same stock had a value of $15,230 at the end of the year.
  3. Moab Inc. sold some of its inventory for $7,000 cash. This inventory had a basis of $5,000.
  4. Moab Inc. disposed of an office building with a fair market value of $75,000 for another office building with a fair market value of $55,000 and $20,000 in cash. It originally bought the office building seven years ago for $62,000 and has taken $15,000 in depreciation.
  5. Moab Inc. sold some land held for investment for $28,000. It originally bought the land for $32,000 two years ago.
  6. Moab Inc. sold another machine for a note payable in four annual installments of $12,000. The first payment was received in the current year. It originally bought the machine two years ago for $32,000 and has claimed $9,000 in depreciation expense against the machine.
  7. Moab Inc. sold stock it held for eight years for $2,750. It originally purchased the stock for $2,100.
  8. Moab Inc. sold another machine for $7,300. It originally purchased this machine six months ago for $9,000 and has claimed $830 in depreciation expense against the asset.

3. Complete Moab Inc.s Form 4797 for the year.

image text in transcribed

image text in transcribed

property property mo, day. y.) mo, day. y. price Sowable since acquisition Improvements and expense of sale Sum of (d) and (e) 3 4 5 3 Gain, If any from Form 4634. line 39 4 Section 1231 gain from Instaiment sales from Form 6252, line 2 or 37 5 Section 1231 gain or loss) from like-kind exchanges from Form 3824 6 Gain, if any from line 32. from other than casualty or the 7 Combine lines through 6. Enter the gain or loss here and on the appropriate line as follows Partnerships and corporations. Report the gain or loss) following the instructions for Form 1065 Schedule Kine 10 or Form 1120-s Schedule K line 9. Skipines 8.9.11 and 12 below. 0 4,000 17,000 8,100 29,100 lololol 7 Individuais partners, corporation Shareholders, and all others. line 7 is zero or a loss, enter the amount from line 7 on line 11 below and skip lines 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 7 25 a long-term capital gain on the schedule Died with your return and skillnes 8.9. 11, and 12 below. 2,000 & Nonrecaptured net section 1231 losses from prior years. See Instructions Subtract lines from line 7. zero or less enter-o-line 9 is zero, enter the gain from line 7 on line 12 below. Fine 9 is more than zero, enter the amount from line 8 on line 12 below and enter the gain from line 925 a long-term capital gain on the schedule Ded with your return. See Instructions 27,100 Part II Ordinary Gains and Losses (see instructions) 10 Ordinary gains and losses not included on lines 11 through 16 (include property held 1 year or less Machinery 2020 2020 7,300 830 9.000 (870) 0 0 0 11 Loss any from line 7 (Enter as negative) 11 12 Gain, any from the 7 or amount from the applicable 13 Gain, If any from line 31 14 Ne gain or loss) from Form 4634.hes 31 and 388 15 Ordinary gain from installment Sales from Form 6252, ne 25 or 36 16 Ordinary gain or loss) from like-kind exchanges from Form 3824 17 Combinenes 10hrough 16 18 For all except individual returns, enter the amount from line 17 on the appropriate line of your return and skillness and below. For Individual returns, completeness and below. . the loss on line 11 Includes a loss from Form 4634. line 35. columbo enter the part of the loss here. 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.) Identitas from Form 4797, the 18a. See Instructions 13 14 15 16 17 0 2.000 8,000 0 9,000 3,000 21,130 lol lol (2015 Part III Gain From Disposition of Property Under Sections 1245, 1250, 1252, 1254, and 1255 (see instructions) by care 19 (a) Description of section 1245, 1250, 125, 1254. or 1255 property (c) Date acquired sold A Machinery 2017 2000 5 D These columns relate to the properties onlines 19A through 190 Property B Property Property D Property A 27.300 19 200 8.000 11.200 16.100 8.000 8.000 250 20 Gross sales price (Note: Seene 1 before completing) 21 Cost or other besis plus expense of sale Depreciation for depletion allowed or allowable 23 As usted besis. Subtract line 22 from line 21 24 Total gain. Subtract line 23 from line 20 25 section 1245 property a Depreciation allowed or allowable from the b Enter the smaller of line 24 or 250 25 section 1250 property: Straight line depreciation wes used enter-O-on line 25qexcept for a corporation subject to section 291. a Additional depreciation after 1975. see Instructions b Applicable percentage multiplied by the smaller of line 24 or line 26. See Instructions Subtract line 25 from line 24. residential rental property or line 24 Isn't more than line 25, skillness and se d Additional depreciation after 1969 and before 1975 e Enter the smaller of line 26cord 1 Section 291 amount (corporations only) Add lines 260 26e, and 261 27 section 1252 property: Skip this section you didn't dispose of farmland or this form is being completed for a partnership a soll, water, and and clearing expenses b Line 27a multipled by applicable percentage. See Instructions c Enter the smaller of line 24 of 276 23 section 1254 property Intangible dring and development cos's expenditures for development of mines and other natural depos mining exploration costs and depletion. See Instructions b Enter the smeer of line 24 orta 29 section 1255 property a Applicable percentage of payments excluded from Income under section 125. See Instructions 250 270 property property mo, day. y.) mo, day. y. price Sowable since acquisition Improvements and expense of sale Sum of (d) and (e) 3 4 5 3 Gain, If any from Form 4634. line 39 4 Section 1231 gain from Instaiment sales from Form 6252, line 2 or 37 5 Section 1231 gain or loss) from like-kind exchanges from Form 3824 6 Gain, if any from line 32. from other than casualty or the 7 Combine lines through 6. Enter the gain or loss here and on the appropriate line as follows Partnerships and corporations. Report the gain or loss) following the instructions for Form 1065 Schedule Kine 10 or Form 1120-s Schedule K line 9. Skipines 8.9.11 and 12 below. 0 4,000 17,000 8,100 29,100 lololol 7 Individuais partners, corporation Shareholders, and all others. line 7 is zero or a loss, enter the amount from line 7 on line 11 below and skip lines 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 7 25 a long-term capital gain on the schedule Died with your return and skillnes 8.9. 11, and 12 below. 2,000 & Nonrecaptured net section 1231 losses from prior years. See Instructions Subtract lines from line 7. zero or less enter-o-line 9 is zero, enter the gain from line 7 on line 12 below. Fine 9 is more than zero, enter the amount from line 8 on line 12 below and enter the gain from line 925 a long-term capital gain on the schedule Ded with your return. See Instructions 27,100 Part II Ordinary Gains and Losses (see instructions) 10 Ordinary gains and losses not included on lines 11 through 16 (include property held 1 year or less Machinery 2020 2020 7,300 830 9.000 (870) 0 0 0 11 Loss any from line 7 (Enter as negative) 11 12 Gain, any from the 7 or amount from the applicable 13 Gain, If any from line 31 14 Ne gain or loss) from Form 4634.hes 31 and 388 15 Ordinary gain from installment Sales from Form 6252, ne 25 or 36 16 Ordinary gain or loss) from like-kind exchanges from Form 3824 17 Combinenes 10hrough 16 18 For all except individual returns, enter the amount from line 17 on the appropriate line of your return and skillness and below. For Individual returns, completeness and below. . the loss on line 11 Includes a loss from Form 4634. line 35. columbo enter the part of the loss here. 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.) Identitas from Form 4797, the 18a. See Instructions 13 14 15 16 17 0 2.000 8,000 0 9,000 3,000 21,130 lol lol (2015 Part III Gain From Disposition of Property Under Sections 1245, 1250, 1252, 1254, and 1255 (see instructions) by care 19 (a) Description of section 1245, 1250, 125, 1254. or 1255 property (c) Date acquired sold A Machinery 2017 2000 5 D These columns relate to the properties onlines 19A through 190 Property B Property Property D Property A 27.300 19 200 8.000 11.200 16.100 8.000 8.000 250 20 Gross sales price (Note: Seene 1 before completing) 21 Cost or other besis plus expense of sale Depreciation for depletion allowed or allowable 23 As usted besis. Subtract line 22 from line 21 24 Total gain. Subtract line 23 from line 20 25 section 1245 property a Depreciation allowed or allowable from the b Enter the smaller of line 24 or 250 25 section 1250 property: Straight line depreciation wes used enter-O-on line 25qexcept for a corporation subject to section 291. a Additional depreciation after 1975. see Instructions b Applicable percentage multiplied by the smaller of line 24 or line 26. See Instructions Subtract line 25 from line 24. residential rental property or line 24 Isn't more than line 25, skillness and se d Additional depreciation after 1969 and before 1975 e Enter the smaller of line 26cord 1 Section 291 amount (corporations only) Add lines 260 26e, and 261 27 section 1252 property: Skip this section you didn't dispose of farmland or this form is being completed for a partnership a soll, water, and and clearing expenses b Line 27a multipled by applicable percentage. See Instructions c Enter the smaller of line 24 of 276 23 section 1254 property Intangible dring and development cos's expenditures for development of mines and other natural depos mining exploration costs and depletion. See Instructions b Enter the smeer of line 24 orta 29 section 1255 property a Applicable percentage of payments excluded from Income under section 125. See Instructions 250 270

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