Please fill out the excel table and form 4797 from IRS website.

AutoSave . Off) H ACTG068A_HW_3_Instructions_2019_4797_ABC, Inc.xIsx - Protected View Search A Jason Chavez JC X File Home Insert Page Layout Formulas Data Review View Help Share Comments U18 X V fx B C D E F G H K M N O P Q R S V 1 ACTG 068A 2 3 Homework Assignment # 3 REQUIRED: 7 Prepare 2019 Form 4797 for ABC, Inc. from the following information: 8 9 ABC, Inc. FEIN 94-998877345 is in construction business. ABC had the following transactions in 2019: 10 11 Sales of Business Property 12 13 Personal Property 14 Date Depreciation Holding Depreciation 15 Item Sale Sales Placed Purchase /Amortization Period Gain LT recapture LT ST (LT or - ordinary (line afer 16 Sold Date Price In Service Price Taken ST) (Loss) Capital 31) Recapture Ordinary 17 (1) (2) (3) (1) - [(2)-(3)] (4) (5 (4) - (5) 18 19 A. Truck 10/1/2019 5,000 2/1/2017 18,000 18,000 20 21 B. Furniture 7/5/2019 $ 900 2/1/2019 $ 1,400 $ 23 "SuperCement" TM Formula 6/15/2019 $ 10,000 3/2/1999 $ 1,000 $ 1,000 24 C. 25 D. Mixing Machine (see note) 5/5/2019 $ 1/1/2017 $ 3,500 $ 26 27 1231 5 year look back recapture (line 8 & 12) 28 29 check - 30 (A) line 9 line 18b S/b = (A) 31 2 Assume ABC, Inc. had $3,000 of net unrecaptured Sec. 1231 losses in excess of Sec. 1231 gains 32 for 5 prior years 33 34 Note: Because of clerical error no depreciation was taken on Mixing Machine a 5 year MACRS property placed in service on 1/1/2017 35 No property was placed in service in the 4th Quarter of 2019 36 37 Hint: Depreciation "allowed or allowable" concept is tested here! 40 ACTGO68A HW 3 + Ready + 88% 2:25 PM EPIC w X 5/18/2020 E