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 Form 4797 2014

2014-2025 Form

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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

[Music] how to report the sale of a US rental property hi my name is Alan Madden from Madden chartered accountant in today's video I will show you how to report the sale of a US rental property on a US tax return before watching this video I recommend that you watch my two-part series how to prepare a 1040 non-resident tax return for us rental properties let's look at the example of Justin trupo a Canadian resident who owns a US rental property he purchased the property in 2014 for $100,000 he sold the property on December 31st 2016 for $130,000 Justin paid a commission of $2,000 to his real estate agent for selling the property at the end of 2016 Justin has claimed total depreciation of $10,600 [Music] [Music] on page two Justin should write a description of the property example building the date the property was purchased and the date the property was sold next Justin has to calculate the adjusted basis or tax cost of his rental property as follows purchase price 100,

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