Form 4797 - Hands On: Emphasizing Sales of Business and Rental Real Estate ON DEMAND

Overview

Navigating the complexities of Form 4797 for reporting business asset transactions is a daunting task for many tax professionals. The intricate details of Code Sections 1231, 1245, 1250, and 197, and the challenges of accurately reporting sales of business assets and real estate, often lead to confusion and potential errors. This comprehensive real estate accounting course offers a robust solution to these challenges. It provides an in-depth understanding of each section of Form 4797, enabling participants to accurately report complex accounting for real estate transactions. The online CPE real estate course expertly guides tax professionals through the intricacies of computing Section 1250 recapture and unrecapture, identifying ordinary income under Sections 1245 and 1250, and making Partial Disposition elections. By demystifying these complex areas, this real estate accounting course equips participants with the skills and confidence to ensure accuracy and compliance in their tax practice, making them invaluable assets in managing intricate tax scenarios.

Highlights

Who is Form 4797 used by. How is Form 4797 used to report.

Prerequisites

None.

Designed For

CPAs, EAs, CRTPs, and other tax professionals.

Objectives

Understand Code Section 1231, 1245 and 1250 transactions. Correctly report the sale of business assets and real estate. Compute both Section 1250 recapture and unrecaptured. Identify when gain is ordinary income under Section 1245 or 1250. Understand how to make a partial disposition election.

Preparation

None.

Notice

None.