[forever4]

There are only 2 sims for the sub topic in Wiley test bank. They one i’m asking about is the one that they want you to fill out the whole form 4797. My question is why truck 1 and 2 are sec 1245 but truck 4 is not? The question does not say anything differently for truck 4 but why it is not??? I’m super confused right now :(.

Thanks

FAR 5/14 88 PASSED!
REG 7/13 74 :((((((((....! I cant believe it!!!! I studied so hard...
REG retake 11/29 -> 89!!!!!!!!!!!!!!!!!!!
BEC 10/11/12 -> 84!!!!!!!!!!!!!
AUD 10/25/12 -> 95!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I'm DONE! OMG 8 months of hard work.

I SHALL PASS. BECAUSE IT'S ME, SO EVERYTHING WILL BE OK!

[Isaac]

I practiced that same SIM the other day and for the life of me, I couldn't figure out why Truck 4 is not section 1245 either! I look forward to someone's explanation.

FAR...80...Yaeger...Nov/2011
AUD...Exam...Oct/2012
REG
BEC

[nolifecpa]

i think the reason truck #4 is put in part 1 is because it was sold for a loss. truck #1 and #2 were sold for a gain and put in part 3

REG-65,71,74,73,70,74,79
BEC-60's,60's,69,71,76*,78
FAR-67,66,65,79
AUD-54,60's,65,83*,69,80
*expired

DONE

[Marivy22]

I agree with nolifecpa.

See IRS instructions on this link

https://www.irs.gov/pub/irs-pdf/i4797.pdf

Done 😉
Class of 2012!!!!
Lots of prayers and hard work....

[forever4]

but in form it doesnt say strictly for loss. If you look, it would say gain or loss amount under part 1 too.

FAR 5/14 88 PASSED!
REG 7/13 74 :((((((((....! I cant believe it!!!! I studied so hard...
REG retake 11/29 -> 89!!!!!!!!!!!!!!!!!!!
BEC 10/11/12 -> 84!!!!!!!!!!!!!
AUD 10/25/12 -> 95!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I'm DONE! OMG 8 months of hard work.

I SHALL PASS. BECAUSE IT'S ME, SO EVERYTHING WILL BE OK!

[Author]

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