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Form 4797 for Orlando Florida: What You Should Know

A lot of things can happen with this form, and sometimes you need to be able to complete the forms within a specified time frame to be entitled for the full rebate. In certain situations when items are exchanged after June 15th, 2008, you receive a rebate for the amount that was exchanged minus your sales or use taxes charged on the exchange. Your rebates are not retroactive. You are required to enter all of the following information if you were required to file Form 8824: Name of the Exchange Participant Amount received in exchange for property If your transaction is in connection with a tax-free exchange, report your tax-free proceeds on Form 5498, and enter the amount on line 24 of Schedule D. If your transaction involves the sale or exchange of capital assets, you must report both sales or exchanges, but only enter the amount received for property on page 2 of your Form 8824 return.

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