If you sell property in connection with your trade or business, you may be required to report the sale or exchange and any potential gains/losses on IRS Form 4797.

The Form 4797 is most commonly used to report the sale of real property (Section 1250 property) and personal property (Section 1245 property). In this example, we cover a situation where an S corporation sells two vehicles used in its business.

For some other videos covering Form 4797 and other tax issues on the sale of business property, see below:
Section 1231 Gains on Sale of Rental: [ Ссылка ]
Section 1250 Depreciation Recapture: [ Ссылка ]
Nonrecaptured 1231 Losses: [ Ссылка ]
Avoid Capital Gains with QOF Investment: [ Ссылка ]
$3,000 Capital Loss Limits: [ Ссылка ]

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