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 Form 4797 Sales of Business Property Also Involuntary Conversions and Recapture Amounts under Sections 179 and 280Fb2 2020

4797 2020-2025 Form

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Video instructions and help with filling out and completing Form 4797 Sales Of Business Property Also Involuntary Conversions And Recapture Amounts Under Sections 179 And 280Fb2

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Instructions and help about form 4797 instructions 2017

okay for this video I wanted to go over real estate depreciation recapture so for the most part I think people understand that when you when you depreciate real estate rental properties over the course of its life it's you're lowering the cost basis in the asset or your adjusted basis rather so when you sell it at a later date you might have to recapture some of that depreciation but there is a lot of confusion about how to actually do that and then what's the character of the gain is it ordinary is it long-term capital gain short-term capital gain what are the rules here so I've got a few slides we'll go over the rules and then a sample fact pattern and then I've also got some sample returns here so the real estate that we're going to be depreciating and then selling is in a real estate partnership LLC with two owners so we're going to go over that see how everything is reported on the k1s and then we also have the two sa

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