Question: Complete the Form 4797. Lavender Manufacturing, LLC has decided to upgrade it's equipment for the newest technology. The old equipment is in very good condition.

Complete the Form 4797.

Lavender Manufacturing, LLC has decided to upgrade it's equipment for the newest technology. The old equipment is in very good condition. By using a broker, they were able to get a good price for some of the old equipment. Data on this equipment disposition are as follows:

Asset Cost Date Acqu'rd Accum Dep Sales price Date sold

Grinders $1,500,000 12/11/16 $500,000 $900,000 05/01/20

Planters $ 400,000 03/17/17 $250,000 $ 75,000 04/25/20

Welders $2,000,000 07/21/19 $2,000,000 $1,500,000 09/01/20

The company used the 100% bonus depreciation in 2019 for the welders. This DOES NOT change anything on the Form 4797!

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Instructions Complete Form 4797 Sales of Business Property for Lavender Manufacturing LLC Answer Part 1 Part I of Form 4797 is used when a taxpayer has sold or exchanged business property during the t... View full answer

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