Form 4797 Generator by Jotform
Sold equipment, a rental property, or other business assets this year? Form 4797 reports the gain or loss. Business owners and landlords can fill it out online for free with Jotform and download a PDF.
Keep sales and business data secure
Form 4797 contains detailed figures about your business assets. Jotform secures your data with 256-bit SSL encryption and GDPR and CCPA friendly features, and you can enable encrypted forms for added protection.
Fill out Form 4797 on any device
Enter sale details from your office, home, or on the go. Jotform works on desktops, tablets, and phones and resizes the form to fit your screen.
Easier entry, instant PDF
Form 4797 has several parts, and Jotform keeps each one clearly organized. When you've entered your sales, download the completed form as a PDF.
Back in the original IRS layout
Jotform converts your answers into the official Form 4797 layout. The PDF matches the IRS version, so it's ready to attach to your return or share with your accountant.
FAQ
What is Form 4797 used for?
Form 4797, Sales of Business Property, reports gains and losses from the sale, exchange, or involuntary conversion of property used in a trade or business, such as equipment, vehicles, buildings, and rental property. It's also used to report depreciation recapture.
Who files Form 4797?
Individuals, partnerships, corporations, estates, and trusts can all file Form 4797 when they sell or dispose of business or rental property. It's attached to the main return, like Form 1040, Form 1065, or Form 1120.
The sale of personal-use property, like your main home or a personal car, isn't reported on Form 4797.
What's the difference between the parts of Form 4797?
Part I covers business property held more than one year (section 1231 property). Part II reports ordinary gains and losses, including property held one year or less. Part III figures gain on depreciable property that's subject to recapture under sections like 1245 and 1250.
Part IV is for recapture when business use of section 179 or listed property drops to 50% or less.
How do I fill out Form 4797?
First, report any sales proceeds from Forms 1099-B or 1099-S on line 1. Then list each property in the right part based on how long you held it and whether depreciation recapture applies. For each item, include the description, dates acquired and sold, sale price, depreciation allowed, and cost or other basis.
Part III results flow back into Parts I and II, and the totals from those parts go to your tax return, often through Schedule D for long-term gains.
What mistakes should I watch for on Form 4797?
A common one is forgetting to subtract depreciation you were allowed to take, even if you didn't actually claim it. Another is reporting a rental property sale on Form 8949 instead of Form 4797. Keep depreciation records for each asset so your basis is correct.
Is my data secure when I fill out Form 4797 with Jotform?
Yes. Jotform protects your entries with 256-bit SSL encryption and offers encrypted forms for extra security. Filling out the form and downloading the PDF is free.
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