Use Form 4797 to report the following.
• The sale or exchange of:
1. Real property used in your trade or business;
2. Depreciable and amortizable tangible property used in your trade or
business;
3. Oil, gas, geothermal, or other mineral properties; and
4. Section 126 property.
• The involuntary conversion (from other than casualty or theft) of property
used in your trade or business and capital assets held for more than 1 year in connection with a trade or business or a transaction entered into for profit
• The disposition of noncapital assets (other than inventory or property held primarily for sale to customers in the ordinary course of your trade or business).
• The disposition of capital assets not reported on Schedule D.
• The gain or loss (including any related recapture) for partners and S corporation shareholders from certain section 179 property dispositions by partnerships and S corporations.
• The computation of recapture amounts under sections 179 and 280F(b)(2) when the business use of section 179 or listed property decreases to 50% or less.
• Gains or losses treated as ordinary gains or losses, if you are a trader in securities or commodities and made a marktomarket election under section 475(f).
• Election to defer a qualified section 1231 gain (gains derived from the sale of property used in a trade or business) invested in a qualified opportunity fund (QOF).