What Is the 4797 Form Used for?
Gains or losses treated as ordinary gains or losses, if you are a trader in securities or commodities and made a mark-to-market election under Internal Revenue Code section 475 (f). Correction to a Form 1040 Line Reference in the 2020 Instructions for Form 4797 —
How is disposition of property reported on Form 4797?
The disposition of each type of property is reported separately in the appropriate part of Form 4797 (for example, for property held more than 1 year, report the sale of a building in Part III and land in Part I).
