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Net Loss from Federal Column of Your Michigan MI 1040D or MI 4797  Form

Net Loss from Federal Column of Your Michigan MI 1040D or MI 4797 Form

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Video instructions and help with filling out and completing Net Loss From Federal Column Of Your Michigan MI 1040D Or MI 4797 Form

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Instructions and help about mi 1040 schedule 1

all right for this video I want to go over a sample form 4797 the sale of business property and this is going to be for the 2023 tax year and it is being included with a form 1120s filing for a Florida S corporation so in this scenario we want to look at how to record the sale of business assets where the date the asset was purchased and placed in a service is the same year you sold it so we've got the 4797 here we just have page one of the 4797 so we don't have the second page which includes Parts three and four because we're not going to need them so I've got the full 1120s here so we'll go through all the forms and schedules that are going to be required and then lastly I've got one slide here uh just very briefly covering some of the information that's going to apply here and then the details on the fact patterns so the 4797 we use this to record gain or loss on the sale of property using a Trader business and that's d

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