This form is an Asset Purchase Agreement. The buyer agrees to purchase from the seller certain assets which are listed in the agreement. The form also provides a listing of certain assets which will be excluded from the sale. The form must be signed in the presence of a notary public.
Sale Of Business Asset With Personal Use In Middlesex
Category:
State:
Multi-State
County:
Middlesex
Control #:
US-00418
Format:
Word;
Rich Text
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This Drake Tax article discusses the sale of an asset used for personal and business use. Use Form 4797 to report: The sale or exchange of property.The involuntary conversion of property and capital assets. Remember also that the value you place on the business asset is what the depreciation will be based on. If you sold business-use property during the year, you had a gain or a loss on the sale. Complete and file Form 4797: Sale of Business Property. We will not address specific tax account concerns through email.