Part II. Summary Sheet for the Sales of Business Property (Form 4797) Step 1) Sales or Exchanges of Property Used in a Trade or Business (Held for More Than 1 Year) Description Date Date Sold Gross Sales Accumulated Adjusted Gain or (loss) of property acquired Price Basis Depreciation A) B) C) D) Step 2) Ordinary Gains and Losses (incl. property held 1 year or less). Enter zero if not applicable. Description Date Date Sold Gross Sales Accumulated Adj. Basis Gain or of property acquired Price Depreciation (loss) Step 3). Descriptions of Section 1245 property: 1) 2) 3) 4) 5) 6) 7) Description Remaining of property Date Date Gain Accumulate Amount of Gain = acquired Sold d Gain reported as (4) - (6) Depreciation Ordinary (Lesser of 4 or 5) a) Total Amount of ordinary gain under Section 1245 reported on (6) b) Net Section 1231 Gain or loss from personal property