Form 4797: Report Columns

The Sales of Property Worksheet begins with Part III of Form 4797, which details the disposed asset information and whose totals carry to Parts I and II. Some column headings change for different parts of the form and for different property types.

These standard columns appear in the report and need no explanation:

System Number

Extension

Company Asset Number

Description

Acquisition Date

Current Accumulated Depreciation

The following guidelines provide detail on the nonstandard columns that appear on the report.

Column	Notes
Retirement Date	This column shows the date you disposed of the asset.
Gross Sales Price	This column shows the total of the cash and noncash proceeds from the asset's disposal.
Cost Plus Expenses of Sale	This column shows the total of the asset's acquired value and expenses of sale.
Adjusted Basis	This column shows the result of subtracting the Current Accumulated Depreciation column amount from the Cost Plus Expenses of Sale column amount. See Adjusted Basis Report.
	The following guidelines provide detail on the nonstandard columns that appear only in Part III of the report.
Total Gain	This column shows the total gain (or loss) -- the gross sales price minus the adjusted basis. For property other than Section 1245 and 1250, the system assumes all gains are capital gains.
	The following guidelines provide detail on the nonstandard columns that appear only in Part III of the report and applies only to Section 1245 property.
Capital Gain	This column shows the total gain minus the ordinary gain (see below).
Ordinary Gain	This column shows the lower of total accumulated depreciation or total gain.
	The following guidelines provide detail on the nonstandard columns that appear only in Part III of the report and applies to Section 1250 property. The system calculates columns (a) through (g) according to the Form 4797 instructions for Section 1250 property.
	The following guidelines provide detail on the nonstandard columns that appear only in Part I and II of the report.
Gain or (Loss)	This column shows the sum of the gross sales price and the current accumulated depreciation, minus the Cost Plus Expenses of Sale column amount. A loss is indicated by a negative sign; for example, -500.
	The following guidelines provide detail on the nonstandard columns that appear only in Part V of the report.
179 Recapture	This column shows data from calculations made at the time of asset disposal and displayed on the Asset Disposal window. For more information, see Section 179 Addback.