L1 T
L2 L
L3 ~
TY 0
L4 ~
L5 X
|
+ TY + 1968 * 100 ^ ZTY
+ LSEL - LMOR ^ L07                  ' LINE 7
+ LCST - LDEP ^ L10                  ' LINE 10
+ L10 + LCOM + L12 ^ L13             ' LINE 13
+ LSEL - L13 ^ L14                   ' LINE 14
^ TP1                                ' TEST TO COMPLETE LINES 15 - 37
+ L14 > + 1 ^ TP1
+ L15 ^ L15                          ' LINE 15
+ L14 - L15 * TP1 ^ L16              ' LINE 16
+ LMOR - L13 * TP1 ^ L17             ' LINE 17
+ L17 < ^ L17
+ L07 + L17 * TP1 ^ L18              ' LINE 18
+ L16 * 100 / L18 * 100 ^ L19        ' LINE 19
+ L18 = ^ L19
+ L19 < ^ L19
+ L5 - X \ + L4 * 100 ^ L19
+ L5 - ~ = L4 - ~ = ^ L19
+ L5 - X = + L17 ^ L20               ' LINE 20
+ L17 + LPAY * TP1 ^ L22             ' LINE 22
+ L19 * L22 / 1000000 * 100 ^ L24    ' LINE 24
+ LREC ^ L25                         ' LINE 25
+ L25 - L24 > + L24 ^ L25
+ L24 - L25 ^ L26                    ' LINE 26
^ TP2                                ' TEST TO COMPLETE PART III
+ TP1 > + L3 - X = + 1 ^ TP2
+ LRSL * TP2 ^ L32                   ' LINE 32
+ L32 - LCON > + LCON ^ L32
+ L22 + LPRI * TP2 ^ L33             ' LINE 33
+ L32 - L33 ^ L34                    ' LINE 34
+ L34 < ^ L34
+ L19 * L34 / 1000000 * 100 ^ L35    ' LINE 35
+ LRRC ^ L36                         ' LINE 36
+ L36 - L35 > + L35 ^ L36
+ L35 - L36 ^ L37                    ' LINE 37
+ L26 ^ TP1                          ' LINE 26 OR 37
+ L3 - X = + L37 ^ TP1
+ L1 - C = + L2 - S = + TP1 ^ DLS    ' SCH D LINE 4
+ L1 - C = + L2 - L = + TP1 ^ DLL    ' SCH D LINE 12
+ L1 - T = + L2 - S = + TP1 ^ G11    ' 4797 LINE 11
+ L1 - T = + L2 - L = + TP1 ^ G04    ' 4797 LINE 4
+ L25 + L36 ^ G16                    ' 4797 LINE 16
|
S Was property used in a TRADE OR BUSINESS or CAPITAL ASSET?...................[
X L1 `T`C
Q 'T' = Trade or business, 'C' = Capital asset.
S ]
^
S Is this a SHORT or LONG term property?.......................................[
X L2 `S`L
Q 'S' = Short term, 'L' = Long term.
S ]
^
S Check here for year of sale..................................................[
X L5 `X`~
Q Insert 'X' or ' '.
S ]
^
R -80
^
S ~1  Description of property >~
P __________________________________________________
^
S ~2a Date acquired >~
P __/__/__
Q Insert month, day, year.
S ~~~~~~~~~~~b Date sold >~
P __/__/__
Q Insert month, day, year.
S ~~~~~~~~~~~~~~~~~~~
^
S ~3  Was the property sold to a related party after May 14, 1980?.............[
P ~
Q Insert 'Y' or 'N'.
S ]
^
S ~4  If the answer to question 3 is "Yes", was the property marketable?.......[
P ~
Q Insert 'Y' or 'N'.
S ]
^
R -80
^
S PART I - GROSS PROFIT AND CONTRACT PRICE ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
^
R -80
^
S ~5 Selling price including mortgages and other depts. Do not~~~~~~~~~~~~~~~~~~~~
^
S ~~~include interest whether stated or unstated.....................! 5 !
C LSEL
c LSEL
^
S ~6 Mortgages and other debts the buyer assumed or     !   !~~~~~~~~!   !~~~~~~~~
^
S ~~~took the property subject to` but not new~~~~~~~~~~!   !~~~~~~~~!   !~~~~~~~~
^
S ~~~mortgages the buyer got from a bank................! 6 !
C LMOR
c LMOR
S !   !~~~~~~~~
^
S ~7 Subtract line 6 from 5.............................! 7 !
T L07
S !   !~~~~~~~~
^
S ~8 Cost or other basis of property sold...............! 8 !
C LCST
c LCST
S !   !~~~~~~~~
^
S ~9 Depreciation allowed or allowable..................! 9 !
C LDEP
c LDEP
S !   !~~~~~~~~
^
S 10 Adjusted basis. Subtract line 9 from 8.............!10 !
T L10
S !   !~~~~~~~~
^
S 11 Commissions and other expenses of sale.............!11 !
C LCOM
c LCOM
S !   !~~~~~~~~
^
S 12 Income recapture from Form 4797` Part III..........!12 !
T L12
t FG1 G33   107 1 Transferred from Form 4797, line 33.
S !   !~~~~~~~~
^
S 13 Add lines 10` 11 and 12.........................................!13 !
T L13
^ 
S 14 Subtract line 13 from 5. If zero or less` stop here.............!14 !
T L14
^ 
S 15 If the property described on line 1 was your main home` enter   !   !~~~~~~~~
^
S ~~~the total of lines 14 and 22 from Form 2119.....................!15 !
T L15
t FP1 P14   031 1 Transferred from Form 2119, line 14.
t FP1 P22   052 1 Transferred from Form 2119, line 22.
^
S 16 Gross profit. Subtract line 15 from 14..........................!16 !
T L16
^ 
S 17 Subtract line 13 from 6. If zero or less` enter -0-.............!17 !
T L17
^ 
S 18 Contract price. Add line 7 and 17...............................!18 !
T L18
^ 
R -80
^ 
S PART II - INSTALLMENT SALE INCOME~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
^
R -80
^ 
S 19 Gross profit percentage. Divide line 16 by 18. For years after  !   !~~~~~~~~
^
S ~~~year of sale, enter the percentage here. [
B L4 `~`0-100
Q Insert 0 - 100.
S ]..................!19 !
T L19
^
S 20 For year of sale only - Enter amount from line 17...............!20 !
T L20
^ 
S 21 Payments received during year. Do not include interest~~~~~~~~~~!   !~~~~~~~~
^
S ~~~whether stated or unstated......................................!21 !
C LPAY
c LPAY
^
S 22 Add lines 20 and 21.............................................!22 !
T L22
^ 
S 23 Payments received in prior years. Do not include~~~!   !~~~~~~~~!   !~~~~~~~~
^
S ~~~interest whether stated or unstated................!23 !
C LPRI
c LPRI
S !   !~~~~~~~~
^
S 24 Installment sale income. Multiply line 22 by line 19............!24 !
T L24
^ 
S 25 Part of line 24 that is ordinary income under recapture rules...!25 !
T L25
c LREC
t FG1 G16   046 1 Transferred to Form 4797, line 16.
^
S 26 Subtract line 25 from 24. Enter on Schedule D or Form 4797......!26 !
T L26
t FG1 G04   013 1 Transferred to Form 4797, line 4 if long term property used for trade or bus.
t FG1 G11   041 1 Transferred to Form 4797, line 11 if short term property used for trade or bus
t FD1 D4G   011 2 Transferred to Schedule D, line 4 if short term property used for cap. asset.
t FD1 D2G   032 2 Transferred to Schedule D, line 12 if long term property used for cap. asset.
^
F
^ 
S PART III - RELATED PARTY INSTALLMENT SALE INCOME~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
^
R -80
^
S Check here to complete Part III..............................................[
X L3 `X`~
Q Insert 'X' or ' '.
S ]
^
S 27  Name, address, and ID number of related party~
P ______________________________
^
S ~~~~
P ____________________________________________________________________________
^
S 28  Did the related party, during this tax year, resell or dispose of the~~~~~~~
^
S ~~~~property ("second disposition")?.........................................[
P ~
Q 'Y' = Yes, 'N' = No.
S ]
^
S 29  If the answer to question 28 is "Yes", complete lines 30 through 37 unless~~
^
S ~~~~one of the following conditions is met. Check only the box that applies.~~~~
^
S ~~a [
P ~
Q Insert 'X' or ' '.
S ] The second disposition was more than 2 years after first disposition~~~~
^
S ~~~~~~~~(other than marketable securities). Date of disposition. >~
P __/__/__
Q Insert month, day, year.
S ~~~~~
^
S ~~b [
P ~
Q Insert 'X' or ' '.
S ] The first disposition was a sale or exchange of stock to issuing corp.~~
^
S ~~c [
P ~
Q Insert 'X' or ' '.
S ] The second disposition was an involuntary conversion where the threat of
^
S ~~~~~~~~conversion occurred after the first disposition.~~~~~~~~~~~~~~~~~~~~~~~~
^
S ~~d [
P ~
Q Insert 'X' or ' '.
S ] The second disposition occurred after death of original seller or buyer.
^
S ~~e [
P ~
Q Insert 'X' or ' '.
S ] It can be established that tax avoidance was not a principal purpose for
^
S ~~~~~~~~either of the dispositions.~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
^
S 30 Selling price of property sold by related party.................!30 !
C LRSL
c LRSL
^ 
S 31 Enter contract price from line 18 for year of first sale........!31 !
C LCON
c LCON
^
S 32 Enter the smaller of line 30 or 31..............................!32 !
T L32
^ 
S 33 Total payments received by end of~
D ZTY
S . Add lines 22 and 23.....!33 !
T L33
^ 
S 34 Subtract line 33 from 32. If zero or less` enter -0-............!34 !
T L34
^ 
S 35 Multiply line 34 by the gross profit percentage on line 19......!35 !
T L35
^ 
S 36 Part of line 35 that is ordinary income under recapture rules...!36 !
T L36
c LRRC
t FG1 G16   046 1 Transferred to Form 4797, line 16.
^
S 37 Subtract line 36 from 35. Enter on Schedule D or Form 4797......!37 !
T L37
t FG1 G04   013 1 Transferred to Form 4797, line 4 if long term property used for trade or bus.
t FG1 G11   041 1 Transferred to Form 4797, line 11 if short term property used for trade or bus
t FD1 D4G   011 2 Transferred to Schedule D, line 4 if short term property used for cap. asset.
t FD1 D2G   032 2 Transferred to Schedule D, line 12 if long term property used for cap. asset.
^
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