Form 4797 – Gains or Losses from Sales of Assets

Article: 50205

Overview

Use Form 4797 to report:

The sale or exchange of property.
The involuntary conversion of property and capital assets.
The disposition of noncapital assets.
The disposition of capital assets not reported on Schedule D.
The gain or loss for partners and S corporation shareholders from certain section 179 property dispositions by partnerships and S corporations.
The computation of recapture amounts under sections 179 and 280F(b)(2) when the business use of section 179 or listed property decreases to 50% or less.
Gains or losses treated as ordinary gains or losses, if you are a trader in securities or commodities and made a mark-to-market election under Internal Revenue Code section 475(f).

To add the Form 4797:

Go to Federal Taxes.
Click Review.
Click I’d like to see the forms I’ve filled out or search for a form.
Enter 4797 in the search box and click on Form 4797 – Gains/Losses from Sales of Assets to add and open the form.
Enter your information and click Save.