IRS Form 4797 Sales of Business Property

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IRS Form 4797 Sales of Business Property

What Is IRS Form 4797?

This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury on January 1, 2017. As of today, no separate filing guidelines for the form are provided by the IRS.

FAQ

Q: What is IRS Form 4797?
A: IRS Form 4797 is used to report the sales of business property.

Q: Who needs to file IRS Form 4797?
A: Individuals, partnerships, and corporations who have sold business property need to file IRS Form 4797.

Q: What information is required to complete IRS Form 4797?
A: You will need to provide details about the property being sold, the sales price, and any gains or losses.

Q: When is IRS Form 4797 due?
A: IRS Form 4797 is generally due by the tax filing deadline, which is April 15th for most individuals.

Q: Can I e-file IRS Form 4797?
A: Yes, you can e-file IRS Form 4797 using tax preparation software or through a tax professional.

Q: What should I do if I made a mistake on IRS Form 4797?
A: If you made a mistake on IRS Form 4797, you will need to file an amended return using Form 1040X.

Q: Do I need to include supporting documents with IRS Form 4797?
A: You may need to include supporting documents, such as sales contracts or receipts, to substantiate the information reported on IRS Form 4797.

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Form Details:

  • A 2-page form available for download in PDF;
  • This form cannot be used to file taxes for the current year. Choose a more recent version to file for the current tax year;
  • Editable, printable, and free;
  • Fill out the form in our online filing application.

Download a fillable version of IRS Form 4797 through the link below or browse more documents in our library of IRS Forms.

Download IRS Form 4797 Sales of Business Property

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