Form 4797 Sales of Business Property 2008

Summary: This is an example of Form 4797 (1995) as pertains to the estate described in the text. The completed line items are:

Name(s) shown on return field contains Thomas Smith Bankruptcy Estate
Identifying number field contains 00-0000000
1. Enter here the gross proceeds from the sale or exchange of real estate reported to you for 1995 on Form(s) 1099-S (or a substitute statement) that you will be including on line 2, 11, or 22 field contains 280,000
Under Part I: Sales or Exchanges of Property Used in a Trade or Business and Involuntary Conversions From Other Than Casualty or Theft--Property Held More Than 1 Year:
- 6. Gain, if any, from line 34, from other than casualty or theft: (h) GAIN field contains 125,000
- 7. Add lines 2 through 6 in column (g) and (h): (h) GAIN field contains 125,000
- 8. Combine columns (g) and (h) of line 7. Enter gain or (loss) here, and on the appropriate line as follows: field contains 125,000
- 10. Subtract line 9 from line 8. If zero or less, enter 0. Also, enter on the appropriate line as follows (see instructions): field contains 125,000