Form 4797 - Sale of Business Property Sale of Asset Entry into Program
1
Form 4797, Sales of Business Property, reports the sale of business property. To enter the sale of business property, follow the steps below.
Online
Dashboard
From within your TaxAct return, click Income.
On smaller devices, click the menu at the top left corner of your screen, then make your selection.
Click the Business & Self Employed drop-down.
Click Add beside Sale of Business Property.
Complete the rest of the interview process.
Classic
From within your TaxAct return, click Federal.
On smaller devices, click the menu at the top left corner of your screen, then make your selection.
Click the Investment Income drop-down, click Gain or loss on the sale of investments drop-down, then click Ordinary gain or loss (Form 4797).
Complete the rest of the interview process.
Desktop
From within your TaxAct return, click Federal.
Click the Investment Income drop-down, click Gain or loss on the sale of investments drop-down, then click Ordinary gain or loss (Form 4797).
Complete the rest of the interview process.
The program will automatically carry the gain or loss to the appropriate part of Form 4797 (unless you choose to Modify the treatment at the end of the interview). See the Form 4797 instructions for details on where the sale of the property should be reported.
Your request has been submitted
You have been successfully added to the TaxAct Do Not Sell list.