L1 T
L2 Y
L3 Y
|
+ L1 - C \ + L1 - T \ ? L1
+ L2 - N \ + L2 - Y \ ? L2
+ L3 - N \ + L3 - Y \ ? L3
+ LSEL - LMOR ^ L07                  ' LINE 7
+ LCST - LDEP ^ L10                  ' LINE 10
+ L10 + LCOM + L12 ^ L13             ' LINE 13
+ LSEL - L13 ^ L14                   ' LINE 14
^ TP1                                ' TEST TO COMPLETE LINES 15 - 37
+ L14 > + 1 ^ TP1
+ L15 * TP1 ^ L15                    ' LINE 15
+ L14 - L15 * TP1 ^ L16              ' LINE 16
+ LMOR - L13 * TP1 ^ L17             ' LINE 17
+ L17 < ^ L17
+ L07 + L17 * TP1 ^ L18              ' LINE 18
+ L18 / 5 ^ L19
+ L16 * 20 / L19 ^ L19               ' LINE 19
+ L18 = ^ L19
+ L19 < ^ L19
+ L17 + LPAY * TP1 ^ L22             ' LINE 22
+ L19 * L22 / 100 ^ L24              ' LINE 24
+ LREC ^ L25    ' LINE 25
+ L25 - L24 > + L24 ^ L25
+ L24 - L25 ^ L26                    ' LINE 26
^ TP2                                ' TEST TO COMPLETE PART III
+ TP1 > + L3 - Y = + 1 ^ TP2
+ L18 * TP2 ^ L31                    ' LINE 31
+ LRSL ^ L32    ' LINE 32
+ L32 - L31 > + L31 ^ L32
+ L22 + LPRI * TP2 ^ L33             ' LINE 33
+ L32 - L33 ^ L34                    ' LINE 34
+ L34 < ^ L34
+ L19 * L34 / 100 ^ L35              ' LINE 35
+ LRRC ^ L36                         ' LINE 36
+ L36 - L35 > + L35 ^ L36
+ L35 - L36 ^ L37                    ' LINE 37
+ L26 ^ TP1                          ' LINE 26 OR 37
+ L3 - Y = + L37 ^ TP1
+ L1 - C = + L2 - N = + TP1 ^ D03    ' SCH D LINE 3
+ L1 - C = + L2 - Y = + TP1 ^ D11    ' SCH D LINE 11
+ L1 - T = + L2 - N = + TP1 ^ G11    ' 4797 LINE 11
+ L1 - T = + L2 - Y = + TP1 ^ G04    ' 4797 LINE 4
+ L25 + L36 ^ G16                    ' 4797 LINE 16
|
S ~~Is property a 'Trade or Business' or 'Capital Asset'?  'T' or 'C' <L1>
B L1
R ~5
^ 
S ~~Was the property held more than 1 year?  'Y' or 'N' <L2>
B L2
R ~19
^ 
S ~~Should part III be completed? 'Y' or 'N' <L3>
B L3
R ~30
^ 
R -80
^ 
S PART I - GROSS PROFIT AND CONTRACT PRICE
R ~40
^
S ~5 Selling price including mortgages and other depts. Do not
R ~20
^
S ~~~include interest whether stated or unstated
R .13
S [LSEL]! 5 !
C LSEL
^ 
S ~6 Mortgages and other debts the buyer assumed or !   !
R ~10
S !   !
R ~10
^
S ~~~took the property subject to` but not new
R ~6
S !   !
R ~10
S !   !
R ~10
^ 
S ~~~mortgages the buyer got from a bank
R .6
S [LMOR]! 6 !
C LMOR
S !   !
R ~10
^
S ~7 Subtract line 6 from 5
R .25
S ! 7 !
T L07
S !   !
R ~10
^
S ~8 Cost or other basis of property sold
R .5
S [LCST]! 8 !
C LCST
S !   !
R ~10
^ 
S ~9 Depreciation allowed or allowable
R .8
S [LDEP]! 9 !
C LDEP
S !   !
R ~10
^
S 10 Adjusted basis. Subtract line 9 from 8
R .9
S !10 !
T L10
S !   !
R ~10
^
S 11 Commissions and other expenses of sale...[LCOM]!11 !
C LCOM
S !   !
R ~10
^
S 12 Income recapture from Form 4797` Part III.(FG1)!12 !
T L12
S !   !
R ~10
^ 
S 13 Add lines 10` 11 and 12
R .39
S !13 !
T L13
^ 
S 14 Subtract line 13 from 15 If zero or less` stop here
R .11
S !14 !
T L14
^ 
S 15 If the property was your main home` enter the total of lines  !   !
R ~10
^ 
S ~~~14 and 22 from Form 2119
R .33
S (FP1)!15 !
T L15
^ 
S 16 Gross profit. Subtract line 15 from 14
R .24
S !16 !
T L16
^ 
S 17 Subtract line 13 from 6. If zero or less` enter -0-
R .11
S !17 !
T L17
^ 
S 18 Contract price. Add line 7 and 17
R .29
S !18 !
T L18
^ 
R -80
^ 
S PART II - INSTALLMENT SALE INCOME
R ~47
^
S 19 Gross profit percentage. Divide line 16 by 18
R .17
S !19 !
T L19
^
S 20 For year of sale only - enter amount from line 17
R .13
S !20 !
T L17
^ 
S 21 Payments received during year. Do not include interest
R ~8
S !   !
R ~10
^
S ~~~whether stated or unstated
R .30
S [LPAY]!21 !
C LPAY
^ 
S 22 Add lines 20 and 21
R .43
S !22 !
T L22
^ 
S 23 Payments received in prior years. Do not
R ~7
S !   !
R ~10
S !   !
R ~10
^
S ~~~include stated or unstated interest
R .6
S [LPRI]!23 !
C LPRI
S !   !
R ~10
^ 
S 24 Installment sale income. Multiply line 22 by line 19
R .10
S !24 !
T L24
^ 
S 25 Part of line 24 that is ordinary income under recapture
R ~7
S !   !
R ~10
^
S ~~~rules
R .46
S (FG1)[LREC]!25 !
T L25
^ 
S 26 Subtract line 25 from 24. Enter on Schedule D or Form
R ~9
S !   !
R ~10
^ 
S ~~~4797
R .49
S (FD1/FG1)!26 !
T L26
^ 
R -80
^ 
S PART III - RELATED PARTY INSTALLMENT SALE INCOME
R ~32
^
S 30 Selling price of property sold by related party
R .9
S [LRSL]!30 !
C LRSL
^ 
S 31 Enter contract price from line 18 for year of first sale
R .6
S !31 !
T L31
^ 
S 32 Enter the smaller of line 30 or 31
R .28
S !32 !
T L32
^ 
S 33 Total payments received. Add lines 22 and 23
R .18
S !33 !
T L33
^ 
S 34 Subtract line 33 from 32. If zero or less` enter -0-
R .10
S !34 !
T L34
^ 
S 35 Multiply line 34 by the gross profit percentage on line 19
R .4
S !35 !
T L35
^ 
S 36 Part of line 35 that is ordinary income under recapture
R ~7
S !   !
R ~10
^ 
S ~~~rules
R .46
S (FG1)[LRRC]!36 !
T L36
^ 
S 37 Subtract line 36 from 35. Enter on Schedule D or Form
R ~9
S !   !
R ~10
^ 
S ~~~4797
R .49
S (FD1/FG1)!37 !
T L37
^ 
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