This course offers an in-depth exploration of IRS Form 4797, a crucial tool for tax professionals managing property sales or exchanges in a business context. It features detailed guidance on distinguishing between capital gains and ordinary income - a distinction that is vital for accurate tax reporting. Participants will benefit from a clear breakdown of the form's sections, understanding the nuances of transaction categorization, basis calculation, and sales price ascertainment. The course also sheds light on depreciations recapture and un-recapture, enhancing practitioners' ability to handle complex scenarios. By demystifying the intricacies of Section Section 1231, 1245, and 1250, as well as the implications of 199A, attendees will gain valuable skills for confident and compliant tax reporting. So join us in deciphering the mystery of Form 4797.