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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
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 Gross Sales Accumulated Adjusted Gain or (loss) of property acquired Price Basis Depreciation A) 3) C) D) Step 2) Ordinary Gains and Losses (incl. property held 1 year or less). Enter zero if not applicable. Description I Date I Date Sold I Gross Sales I Accumulated I Adj. Basis I Gain or of property acquired Price Depreciation (loss) Step 3). Descriptions of Section 1245 property: 1) _ _ 2) 3) 4) 5) 6) 7) Descrlptlon Remaining of property Date Date Gain Accumulate Amount of Gain : acquired Sold d Gain reported as (4) ' ('5) 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
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