The National Association of Tax Professionals

The National Association of Tax Professionals

Sale of Business Assets - Form 4797

  • Topic(s): Business
  • Presenter(s): Randy Lawshe'
  • Session#: 915-26
  • Session Length: 100 minutes
  • Program: NATP 2015 Tax Forums & Expo
  • Date: Aug 26, 2015
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Audio MP3 (download)
$15.95
AudioPoint for Mobile Device - MP4 (download)
$24.95

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Sale of Business Assets - Form 4797 - Details:

When selling a business asset, it's essential to properly calculate the different tax ramifications of recapture, nonrecapture and unrecaptured gain. In this session, learn the calculation methodology of Form 4797 and tips and tricks for verifying proper calculations.

Upon completion of the session, you will be able to:
  1. Identify when a taxpayer is required recapture depreciation.
  2. Calculate recapture, nonrecapture, and unrecaptured gain.
  3. Verify proper calculation of amounts reported on Form 4797.
  4. Report the sale of a business asset on Form 4797.