Lecture Content

Different rules apply to the sale of capital and noncapital assets. Gains and losses on the disposition of personal and investment property are taxed differently than gains and losses on the sale of business property. This manual provides a close-up look of how to report dispositions of business-use assets on Form 4797.

Topics Covered

* Character of gain or loss
* Sale of business property
* Section 1231 property
* Section 1245 and 1250 property
* Selling a business
* Form 8594 Asset Acquisition Statement
* Reporting section 1231 gains and losses
* Line-by-line instructions for preparation of Form 4797 - Sale of Business Property
* Comprehensive illustration of Form 4797
* Sale of publicly traded partnerships (PTPs)
* Passive activity loss rules for partner's interest in a PTP
* Comprehensive illustration - Sale of PTP interest

You can purchase the manual for this course for $1.99 at http://pnwtaxschool.com/oc-catalog/se...

Pacific Northwest Tax School is approved by the following organizations as a provider of continuing education:

* The IRS
* NASBA QAS (NASBA Sponsor #109290),
* Oregon Tax Board,
* The Texas State Board of Public Accountancy (Texas Sponsor #009794)
* The New York State Board for Public Accountancy (Sponsor License #002479)

You can receive 2 hours of CE for $40 by enrolling in this course at http://pnwtaxschool.com/oc-catalog/al...


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