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FORM 4797 - INS & OUTS OF REPORTING THE SALE OF TRADE OR BUSINESS PROPERTY (UPDATED 2019)

4.6 (45)

J. Patrick Garverick, CFP, CPA

THE GARVS LLC

Friday, November 22, 2019 | 10:30 AM EDT

  • CPA
  • EA

2 Credits

$30

Subject Area

Taxes

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Course Description

Form 4797 generally reports the sale of assets utilized in a trade or business as described in IRC §1231. Accountants, CPAs & Tax Professionals should be aware that §1231 provisions are applicable to a wide range of parties, including but not limited to individuals, corporations, partnerships, trusts, estates, and LLCs.

However, that’s not all. Form 4797 is often confusing due to the many kinds of property and the capital gain or ordinary treatment consequences. And that’s the reason why it is home to many errors. This Tax CPE/CE Webinar session is designed to get the attendees up to speed on the Form 4797 preparation issues. Once participants have completed this session they should be able to prepare Form 4797 and understand the income tax laws with respect to the sale of a trade or business property.


Once participants have completed this session they should be able to prepare Form 4797 and understand the income tax laws with respect to the sale of a trade or business property.

Learning Objectives

  • Review the ordinary income recapture rules under IRC §1245, §1250 and §291
  • Discuss the tax treatment of IRC §1231 gains and losses including the 5-year lookback rule
  • Walk through the preparation issues of the Form 4797.
  • Prepare the Form 4797 and understand the income tax laws with respect to the sale of trade or business property

Who Should Attend?

  • Accounting Firm
  • Business Owner
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Senior Accountant
  • Tax Firm
  • Tax Practitioners
  • Tax Pros
  • Young CPA

Testimonial

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    [no_of_record] => 45
    [average] => 4.5778
)
 

4.6

(45)
69%
24%
2%
4%
0%

ZV

Well-organized presentation with very useful handouts. The displays were easy to read, very informative and answered any questions, which came to mind . Fantastic presentation.

CP

Very knowledgeable and concise with the material presented. Moved, quickly, concisely with great tips in this very informative webinar. Much Appreciated.

BJ

Great presentation! Full of useful information...Big thanks for sharing your knowledge