Use Form 4797 to report:
• The sale or exchange of:
1.Property used in your trade or business;
2.Depreciable and amortizable property;
3.Oil, gas, geothermal, or other mineral properties; and
4.Section 126 property.
• The involuntary conversion (from other than casualty or theft) of property used in your trade or business and capital assets held in connection with a trade or business or a transaction entered into for profit.
• The disposition of noncapital assets (other than inventory or property held primarily for sale to customers in the ordinary course of your trade or business).
• The disposition of capital assets not reported on Schedule D.
• The gain or loss (including any related recapture) for partners and S corporation shareholders from certain section 179 property dispositions by partnerships (other than electing large partnerships) and S corporations.
• The computation of recapture amounts under sections 179 and 280F(b)(2) when the business use of section 179 or listed property decreases to 50% or less.
For more information see Form 4797.