Form 4797

Form 4797 is an IRS form used to report gains and losses from the sale of certain assets, including real estate, collectibles, and small businesses. It is also used to report the depreciation of assets and the amortization of intangible assets.

The form is divided into four parts: Part I, Part II, Part III, and Part IV. Part I is used to report the sale of assets, Part II is used to report the depreciation of assets, Part III is used to report the amortization of intangible assets, and Part IV is used to report any other information that is not included in the other parts of the form.

The form is due on April 15th of the year following the year in which the sale of the asset occurred. However, taxpayers who are on an extended filing deadline may be able to file the form later.

If you have any questions about Form 4797, you should consult with a tax professional.