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|Part I. Net Minimum Tax on Exclusion Items|
|Part I. Sales or Exchanges of Property Used in a Trade or Business and Involuntary Conversions From Other Than Casualty or Theftâ€”Most Property Held More Than 1 Year (see instructions)|
|2||(a) Description of property||(b) Date acquired (mo., day, yr.)||(c) Date sold (mo., day, yr.)||(d) Gross sales price||(e) Depreciation allowed or allowable since acquisition||(f) Cost or other basis, plus improvements and expense of sale||Subtract (f) from the sum of (d) and (e)|
|Partnerships (except electing large partnerships) and S corporations. Report the gain or (loss) following the instructions for Form 1065, Schedule K, line 10, or Form 1120S, Schedule K, line 9. Skip lines 8, 9, 11, and 12 below.|
Individuals, partners, S corporation shareholders, and all others. If line 7 is zero or a loss, enter the amount from line 7 on line 11 below and skip lines 8 and 9. If line 7 is a gain and you didnâ€™t have any prior year section 1231 losses, or they were recaptured in an earlier year, enter the gain from line 7 as a long-term capital gain on the Schedule D filed with your return and skip lines 8, 9, 11, and 12 below.
|Part II. Ordinary Gains and Losses (see instructions)|
|18||For all except individual returns, enter the amount from line 17 on the appropriate line of your return and skip lines a and b below. For individual returns, complete lines a and b below:|
|Part III. Gain From Disposition of Property Under Sections 1245, 1250, 1252, 1254, and 1255 (see instructions)|
|19||(a) Description of section 1245, 1250, 1252, 1254, or 1255 property:||(b) Date acquired (mo., day, yr.)||(c) Date sold (mo., day, yr.)|
|These columns relate to the properties on lines 19A through 19D. ▸||Property A||Property B||Property C||Property D|
|25||If section 1245 property:|
|26||If section 1250 property: If straight line depreciation was used, enter -0- on line 26g, except for a corporation subject to section 291.|
|27||If section 1252 property: Skip this section if you didnâ€™t dispose of farmland or if this form is being completed for a partnership (other than an electing large partnership).|
|28||If section 1254 property:|
|29||If section 1255 property:|
|Summary of Part III Gains. Complete property columns A through D through line 29b before going to line 30.|
|Part IV. Recapture Amounts Under Sections 179 and 280F(b)(2) When Business Use Drops to 50% or Less (see instructions)|
|(a) Section 179||(b) Section 280F(b)(2)|
Tip: use the US Tax Calculator to edit your refundable and non-refundable tax credits including Form 4797: Sales of Business Property . Complete, Calculate, print and or save your tax calculation for later use.