4797-2025

See details

4.6 out of 5

38 votes

Form 4797 is used for reporting the sales of business property, including involuntary conversions and recapture amounts under specific tax sections. It requires taxpayers to report gross proceeds from sales, gains or losses from property exchanges, and details about the depreciation of assets. The form is essential for individuals and businesses to accurately calculate their tax obligations related to property transactions.

Here's how it works

01. Edit your form 4797 for 2023 online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send form 4797 via email, link, or fax. You can also download it, export it or print it out.

The fastest way to redact 4797 online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Click 'Get Form' to open it in the editor.
Begin by entering the gross proceeds from sales or exchanges reported on Form(s) 1099-B or 1099-S in line 1a. Ensure you include all relevant amounts for accurate reporting.
In Part I, list each property sold or exchanged. Fill in the description, acquisition date, sale date, gross sales price, and depreciation allowed since acquisition for each property.
Calculate the gain or loss for each property by subtracting the cost basis from the sum of gross sales price and depreciation. Enter this on line 7.
For ordinary gains and losses in Part II, complete lines 10 through 17 based on your transactions. Ensure to follow instructions carefully for any specific calculations.
Finally, review your entries for accuracy. You can print, download, and share your completed form directly from our platform.

Start using our platform today to fill out Form 4797 easily and efficiently!

See more 4797 versions

We've got more versions of the 4797 form. Select the right 4797 version from the list and start editing it straight away!

Versions	Form popularity	Fillable & printable
2023	4.6 Satisfied (38 Votes)
2022	4.7 Satisfied (33 Votes)
2021	4.8 Satisfied (71 Votes)
2020	4.4 Satisfied (199 Votes)
2019	4.4 Satisfied (79 Votes)
2018	4.1 Satisfied (80 Votes)
2017	4.2 Satisfied (65 Votes)
2016	4.3 Satisfied (185 Votes)
2015	4 Satisfied (54 Votes)
2014	4 Satisfied (47 Votes)
2013	4.3 Satisfied (67 Votes)
2012	4.1 Satisfied (26 Votes)
2011	4.1 Satisfied (56 Votes)
1996	4 Satisfied (22 Votes)

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the difference between form 8949 and 4797?

The key difference between Form 4797 and Form 8949 is that Form 4797 is for selling or exchanging property used in a trade or business or for profit, while Form 8949 is specifically for capital assets. If you sold capital assets used in your business, you may have to file both Form 4797 and Form 8949.

What does 4797 mean?

Form 4797 is used to report the sale or disposition of certain types of property, such as real estate, business assets, and investments. You should report the details of these transactions, including the date of sale, the sale price, and the original cost of the property.

What is form 4797 used for?

Key Takeaways. Form 4797 is a tax form distributed by the Internal Revenue Service (IRS). Form 4797 is used to report gains made from the sale or exchange of business property, including property used to generate rental income, and property used for industrial, agricultural, or extractive resources.

Is 4797 ordinary income?

Any gain or loss on the part of the home used for business is an ordinary gain or loss, as applicable, reportable on Form 4797. Any gain or loss on the part producing income for which the underlying activity does not rise to the level of a trade or business is a capital gain or loss, as applicable.

Who fills out form 4797?

As mentioned above, IRS Form 4797 is required if you buy or sell business property. The property types include general rental income and property used for agricultural, industrial, and extractive resources (minerals, oil, etc.)