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Form 4797

Form 4797

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Video instructions and help with filling out and completing Form 4797

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Instructions and help about Form 4797

all right for this video I want to go over the IRS form 4797 the sale of business property and specifically I want to talk about how to complete the 4797 if you're making a mark to Market election under Section 475 f for Traders okay so this is a sample 47.97 for a taxpayer that qualifies for a Trader tax status or TTS for short and then made the 475f election at the start of the year so I've got the 4797 here that's part of a complete return for John so it's it's full 1040 we'll go through all those pieces and then in addition to this I do have one slide here covering some background on Trader tax status and the MTM election and then the fact pattern itself those details here and then in addition to this I do have one Excel workbook showing some of the details of the transactions that he had during the year so if we start with the slide and then we'll go into the return next uh some general background on Trader tax status right s

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