Sale of Business Property – 2017 Law – Self-Study (No Videos)
Different rules apply to the sale of capital and noncapital assets. Gains and losses on the disposition of personal and investment property are taxed differently than gains and losses on the sale of business property. This course provides a close-up look of how to report dispositions of business-use assets on Form 4797.
- Character of gain or loss
- Sale of business property
- Section 1231 property
- Section 1245 and 1250 property
- Selling a business
- Form 8594 Asset Acquisition Statement
- Reporting section 1231 gains and losses
- Line-by-line instructions for preparation of Form 4797 – Sale of Business Property
- Comprehensive illustration of Form 4797
- Sale of publicly traded partnerships (PTPs)
- Passive activity loss rules for partner’s interest in a PTP
- Comprehensive illustration – Sale of PTP interest
At the conclusion of this course you should be able to:
- Distinguish between a capital and noncapital asset
- Evaluate where and when to report sales of business assets on Form 4797
- Use Form 4797 to report disposition of business-use assets
- Evaluate whether like-kind exchange rules apply to the sale/purchase of business assets
- Describe how to figure the depreciation adjustment for sale of a vehicle where the standard mileage rate was claimed
- Calculate ordinary and capital gain income on the sale of publicly traded partnership units
- Determine the amount of passive activity loss that will be treated as a nonpassive loss on sale of an interest in a publicly traded partnership.
Self-Study (No Videos)
2017 Tax Law
Ends: Saturday, July 31, 2021 11:59 PM (PST)
Started: Friday, December 14, 2018 11:59 (PST)
Ends: Sunday, July 31, 2022 11:59 PM (PST)
|IRS (Federal Tax Law)||3 Hours|
|Oregon Tax Board||3 Hours|
Field of Study
Basic tax knowledge
Self-study (No Videos)
IRS Federal Program Number
Meet Your Instructor
April Gutierrez, Enrolled Agent:
Known for her entertaining speaking style and ability to make a complex subject easy to understand, April is frequently invited to speak to business groups and news media on tax-related topics. She has a B.A. in Communication Studies from Murdoch University in Perth, Australia. She obtained her Oregon LTC in 1995.
April resides in Portland, Oregon, with her husband Jess and their two sons. Her pastimes include gardening, travel, and playtime with her Arabian horse, Fancy.
Any Time, Anywhere
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Basic Tax Law
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Students intending to write the Oregon State Tax Exam, must be at least 18 years of age, and have High School Diploma or GED. Students using our self-paced internet based program should prepare for classes by downloading and printing course materials. For more information including detailed course descriptions and learning objectives, view the details of each course, located on Pacific Northwest Tax School’s catalog pages at: https://www.pnwtaxschool.com/list-of-all-courses/
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