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Video instructions and help with filling out and completing Which Form 4797 Excel

Instructions and Help about Which Form 4797 Excel

Hello, this is Jeff Hank again. This video that I'm recording and that you're watching right now is for chapter 11 of our textbook, called Property Dispositions. Basically, it is broken into two parts. The first part of the chapter deals with when a property is disposed of, such as when it's sold. In these cases, when it's sold, the taxpayer has to determine how to treat the gain or loss of the property. The second part of the chapter talks about non-taxable transactions, with the focus being on the like-kind exchange. So, we'll look at both of those, of course, and several other things as we go through this chapter. When you're watching my video, I would suggest that you print out a few things that I have posted. One of them is the Excel spreadsheet that I created that helps determine what the gain is, what the basis is when there is a like-kind exchange. So, print out that Excel spreadsheet and we'll talk about how that works. And then, I also posted two other items: an example of Form 4797, which shows when business property is sold, and then Form 6252, which shows how an installment sale is reported. So, let's skim through the chapter and we'll see what else is out there. And I hope this video will help you understand this chapter. So, as I have indicated in my postings about chapter 11, is that you are only supposed to read objectives 1, 2, 3, and 6. You can read 4 and 5 if you want to, but we're just going to concentrate on objectives 1, 2, 3, and 6. Basically, objective 1 talks about when a disposition is of property. And this chapter just covers the dispositions of business property, whether it's a piece of equipment...