CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Form 4797 Deep Dive: Sale of Business Property

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Taxes

Course Description

Simply put, IRS Form 4797 is a tax form that’s used specifically for reporting the gains or losses made from the sale or exchange of business and income producing property used in a trade or business. However, this form often generates a countless amount of uncertainty and anxiety.

This course will assist tax pros in determining whether a transaction is a capital gain or ordinary income and what tax consequences are associated with each. Furthermore, it will clarify what parts of Form 4797 need to be completed and their holding periods. A detailed example on the Sale of Business and Rental Property is provided. This course will provide you with the confidence to deal with these situations.

So join us in deciphering the mystery of Form 4797.

Learning Objectives

Upon completing this course, participants will be able to:

  • Correctly identify § 1231 Property.
  • Examine the difference between §§ 1245 and 1250 Property.
  • Ascertain the Sales Price.
  • Calculate Basis.
  • Categorize transactions into their appropriate parts on Form 4797.
  • Differentiate between depreciation recapture and capital gain.
  • Identify Un-Recapture Depreciation.
  • Evaluate 199A in reference to §§ 1231, 1245, and 1250.

Course Specifics

Course ID
WC1822295279
Revision Date
August 25, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02059-22-O
IRS Federal Tax Law Credits: 1
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1795
CTEC Federal Tax Law Credits: 1

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

A.J. Reynolds, EA
A.J. Reynolds, EA

A.J. Reynolds, EA has over thirty years of experience encompassing various areas of taxation. Though his practice centers on Individual, Business, and Estate Tax preparation, A.J. focuses a portion of his practice to IRS Representation. As diverse as his specializations, A.J.’s clientele, too, ranges from average workers to Fortune 500 executives. Additionally, A.J volunteers his time with the Iowa Legal Aid’s Managing Attorney assisting in Tax Court cases and assorted income tax issues. A.J. brings his everyday “in the trenches” experience to seminars and webinars for multiple organizations to assist attendees with real issues affecting tax professionals. A.J. started his …

A.J. Reynolds, EA Read More »

Form 4797 Deep Dive: Sale of Business Property

Expert Instructors
CPE CREDITS
1 Credits: Taxes

$49.00


Webcasts are available for viewing Monday - Saturday, 8am - 8pm ET and Sunday 12pm - 4pm ET.
This webcast is 1 hours in length so you must start it before 07:00 pm ET.
Start within 10 hour(s) and 14 minutes to watch today.

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Taxes

Course Description

Simply put, IRS Form 4797 is a tax form that’s used specifically for reporting the gains or losses made from the sale or exchange of business and income producing property used in a trade or business. However, this form often generates a countless amount of uncertainty and anxiety.

This course will assist tax pros in determining whether a transaction is a capital gain or ordinary income and what tax consequences are associated with each. Furthermore, it will clarify what parts of Form 4797 need to be completed and their holding periods. A detailed example on the Sale of Business and Rental Property is provided. This course will provide you with the confidence to deal with these situations.

So join us in deciphering the mystery of Form 4797.

Learning Objectives

Upon completing this course, participants will be able to:

  • Correctly identify § 1231 Property.
  • Examine the difference between §§ 1245 and 1250 Property.
  • Ascertain the Sales Price.
  • Calculate Basis.
  • Categorize transactions into their appropriate parts on Form 4797.
  • Differentiate between depreciation recapture and capital gain.
  • Identify Un-Recapture Depreciation.
  • Evaluate 199A in reference to §§ 1231, 1245, and 1250.

Course Specifics

Course ID
WC1822295279
Revision Date
August 25, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02059-22-O
IRS Federal Tax Law Credits: 1
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1795
CTEC Federal Tax Law Credits: 1

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

A.J. Reynolds, EA
A.J. Reynolds, EA

A.J. Reynolds, EA has over thirty years of experience encompassing various areas of taxation. Though his practice centers on Individual, Business, and Estate Tax preparation, A.J. focuses a portion of his practice to IRS Representation. As diverse as his specializations, A.J.’s clientele, too, ranges from average workers to Fortune 500 executives. Additionally, A.J volunteers his time with the Iowa Legal Aid’s Managing Attorney assisting in Tax Court cases and assorted income tax issues. A.J. brings his everyday “in the trenches” experience to seminars and webinars for multiple organizations to assist attendees with real issues affecting tax professionals. A.J. started his …

A.J. Reynolds, EA Read More »

Form 4797 Deep Dive: Sale of Business Property

Expert Instructors
CPE CREDITS
1 Credits: Taxes

Webcasts are available for viewing Monday - Saturday, 8am - 8pm ET and Sunday 12pm - 4pm ET.
This webcast is 1 hours in length so you must start it before 07:00 pm ET.
Start within 10 hour(s) and 14 minutes to watch today.

$49.00