Publication 544
Sales and Other Dispositions of Assets

For use in preparing 2002 Returns

Table of Contents

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Publication 544, Sales and Other Dispositions of Assets

• Important Reminders
• 1. Gain or Loss
  • Sales and Exchanges
    • Gain or Loss From Sales and Exchanges
      • Bargain Sale
      • Property Used Partly for Business or Rental
      • Property Changed to Business or Rental Use
  • Abandonments
  • Foreclosures and Repossessions
  • Involuntary Conversions
    • Condemnations
      • Gain or Loss From Condemnations
      • Postponement of Gain
      • Reporting a Condemnation Gain or Loss
  • Nontaxable Exchanges
    • Like-Kind Exchanges
      • Qualifying Property
      • Like-Kind Property
      • Deferred Exchange
      • Like-Kind Exchanges Using Qualified Intermediaries
      • Like-Kind Exchanges Using Qualified Exchange Accommodation Arrangements (QEAAs)
      • Partially Nontaxable Exchanges
      • Multiple Property Exchanges
      • Like-Kind Exchanges Between Related Persons
    • Other Nontaxable Exchanges
      • Partnership Interests
      • U.S. Treasury Notes or Bonds
      • Insurance Policies and Annuities
      • Property Exchanged for Stock
  • Transfers to Spouse
  • Rollover of Gain From Publicly Traded Securities
  • Sales of Small Business Stock
  • Rollover of Gain From Sale of Empowerment Zone Assets
• 2. Ordinary or Capital Gain or Loss
  • Capital Assets
  • Noncapital Assets
  • Sales and Exchanges Between Related Persons
    • Gain Is Ordinary Income
    • Nondeductible Loss
  • Other Dispositions
    • Sale of a Business
    • Dispositions of Intangible Property
      • Section 197 Intangibles
      • Patents
      • Franchise, Trademark, or Trade Name
    • Subdivision of Land
    • Timber
    • Precious Metals and Stones, Stamps, and Coins
    • Coal and Iron Ore
    • Conversion Transactions
• 3. Ordinary or Capital Gain or Loss for Business Property
  • Section 1231 Gains and Losses
  • Depreciation Recapture
    • Section 1245 Property
      • Gain Treated as Ordinary Income
    • Section 1250 Property
      • Gain Treated as Ordinary Income
      • Additional Depreciation
      • Applicable Percentage
      • Low-Income Housing With Two or More Elements
    • Installment Sales
    • Gifts
    • Transfers at Death
    • Like-Kind Exchanges and Involuntary Conversions
    • Multiple Properties
• 4. Reporting Gains and Losses
  • Information Returns
  • Schedule D (Form 1040)
    • Long and Short Term
    • Net Gain or Loss
    • Treatment of Capital Losses
    • Capital Gain Tax Rates
      • Using the Capital Gain Rates
      • Qualified 5-Year Gain
      • Net Capital Gain From Disposition of Investment Property
  • Form 4797
  • Example
    • Form 4797
    • Form 8824
    • Summary
• 5. How To Get Tax Help

Index

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A

• Abandonments
• Asset classification, Capital

B

• Basis, Adjusted
• Basis, Original

C

• Canceled, Debt
• Canceled, Lease
• Canceled, Real property sale
• Capital gains and losses, Holding period
• Capital gains and losses, Long term
• Capital gains and losses, Treatment of capital losses
• Charitable organization, Bargain sale to
• Charitable organization, Gift to
• Coal
• Commodities derivative financial instruments
• Condemnations
• Condemnations
• Conversion transactions
• Copyrights
• Copyrights
• Covenant not to compete

D

• Debt cancellation
• Depreciable property, Real
• Depreciable property, Records
• Depreciable property, Section 1245
• Depreciable property, Section 1245
• Depreciation recapture, Personal property

E

• Easement
• Empowerment zone
• Exchanges, Deferred
• Exchanges, Nontaxable
• Exchanges, Related persons

F

• Fair market value
• Foreclosure
• Form, 1040 (Sch. D)
• Form, 1099-B
• Form, 1099-C
• Form, 1099-C
• Form, 1099-S
• Form, 4797
• Form, 4797
• Form, 4797
• Form, 8594
• Form, 8824

G

• Gains and losses, Bargain sale
• Gains and losses, Business property
• Gains and losses, Comprehensive example
• Gains and losses, Defined
• Gains and losses, Property used partly for rental
• Gains and losses, Reporting
• Gifts of property
• Gifts of property

H

• Hedging transactions
• Housing, low income

I

• Information returns
• Inherited property
• Installment sales
• Insurance policies
• Intangible property
• Involuntary conversion, Defined

L

• Land, Release of restriction
• Land, Subdivision
• Liabilities, assumption
• Like-kind exchanges, Liabilities, assumed
• Like-kind exchanges, Like-kind property, Like-class property
• Like-kind exchanges, Multiple parties
• Like-kind exchanges, Qualifying property
• Like-kind exchanges, Related persons
• Low-income housing

M

• Multiple property exchanges

N

• Noncapital assets defined
• Nontaxable exchanges, Like-kind
• Nontaxable exchanges, Other nontaxable exchanges

O

• Ordinary or capital gain

P

• Partially nontaxable exchanges
• Partnership, Controlled
• Partnership, Related persons
• Partnership, Related persons
• Partnership, Sale or exchange of interest
• Partnership, Sale or exchange of interest
• Partnership, Sale or exchange of interest
• Patents
• Personal property, Gains and losses
• Personal property, Transfer at death
• Property used partly for business or rental

R

• Related persons, Condemned property replacement, bought from
• Related persons, Loss on sale of property
• Replacement property
• Replacement property
• Repossession
• Residual method, sale of business

S

• Sale of a business
• Sales
• Sales, Bargain, charitable organization
• Sales, Installment
• Sales, Property changed to business or rental use
• Section 1231 gains and losses
• Section 1245 property, Gain, ordinary income
• Section 1245 property, Multiple asset accounts
• Section 1250 property, Additional depreciation
• Section 1250 property, Defined
• Section 1250 property, Foreclosure
• Section 1250 property, Gain, ordinary income
• Section 1250 property, Nonresidential
• Section 1250 property, Residential
• Section 197 intangibles
• Severance damages
• Stamps
• Stock, Capital asset
• Stock, Controlling interest, corporation
• Stock, Indirect ownership
• Stock, Property exchanged for
• Stock, Publicly traded securities
• Stock, Small business
• Suggestions

T

• Tax rates, capital gain
• Taxpayer Advocate
• Thefts
• Timber
• Timber
• Trade name
• Transfers to spouse
• TTY/TDD information

U

• U.S. Treasury bonds
• Unharvested crops