Form 4797 Sales of Business Property 2006, Page 2

Summary: This is an example of Form 4797, page 2 with items included as described in the text. Additionally, these line items were filled out:

  • 20. Gross sales price (Note: See line 1 before completing.)
  • Property A field contains 700
  • Property B field contains 70
  • Property C field contains 670
  • 21. Cost or other basis plus expense of sale
  • Property A field contains 4,390
  • Property B field contains 1,200
  • Property C field contains 1,200
  • 22. Depreciation (or depletion) allowed or allowable
  • Property A field contains 4,390
  • Property B field contains 1,200
  • Property C field contains 612
  • 23. Adjusted basis. Subtract line 22 from line 21
  • Property A field contains 0
  • Property B field contains 0
  • Property C field contains 588
  • 25a. If section 1245 property: Depreciation allowed or allowable from line 22
  • Property A field contains 4,390
  • Property B field contains 1,200
  • Property C field contains 612
  • 25b. If section 1245 property: Enter the smaller of line 24 or 25a
  • Property A field contains 700
  • Property B field contains 70
  • Property C field contains 82
  • 30. Total gains for all properties. Add property columns A through D, line 24field contains 852
  • 31. Add property columns A through D, lines 25b, 26g, 27c, 28b, and 29b. Enter here and on line 13field contains 852
  • 32. Subtract line 31 from line 30. Enter the portion from casualty or theft on Form 4684, line 33. Enter the portion from other than casualty or theft on Form 4797.field contains 0

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