Form Mi-4797 - Michigan Adjustments Of Gains And Losses From Sales Of Business Property - 2012 Page 2
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22012 MI-4797, Page 2
Filer’s Social Security Number
PART 3: Gain From Disposition of Property Under Sections 1245, 1250, 1252, 1254 and 1255
% Subject to Michigan Tax
Divide number of months
19. Description of Sections 1245, 1250, 1252, 1254 and
Date acquired
Date sold
after 10-1-67 by total number
1255 property
(MM-DD-YYYY)
(MM-DD-YYYY)
of months
(A)
(B)
(C)
(D)
Property
Property
Property
Property
Relate lines 19(A) through 19(D) to these columns:
TOTAL
(A)
(B)
(C)
(D)
20. Enter amounts from U.S. Form 4797, line 24 ............................
21. Enter portion of gain subject to Michigan tax.
(Multiply gain on line 20 by percentage computed on line 19.) ..
22. Enter from U.S. Form 4797 the total of lines 25(b), 26(g), 27(c),
28(b) and 29(b) in columns A through D ....................................
23. Enter portion of gain subject to Michigan tax.
(Multiply gain on line 22 by percentage computed on line 19.) ..
F
G
Federal
Michigan
24. Enter in column F the total from line 20; enter in column G the total from line 21. ...........
25. Enter in column F the total from line 22 and carry to line 13, column D.
Enter in column G the total from line 23 and carry to line 13, column E...........................
Subtract line 25 from line 24. Enter portion in columns F and G from other
26.
than casualty or theft on Part 1, line 6, columns D and E.................................................
Instructions for Form MI-4797
File this form if you have gains from the disposition of property acquired prior to October 1, 1967, or if you have
gains or losses from property subject to allocation and apportionment provisions.
Lines not listed are explained on the form. Round all money
Line 3: Enter in column D any gain from U.S. Form 4684,
items to whole dollars.
line 39. In column E enter the gain subject to Michigan income
tax. If the gain was realized from more than one casualty
T
he purpose of this form is to exclude from your Michigan taxable
or theft and some or all of the property was acquired prior
income gains attributed to periods before October 1, 1967, and
to October 1, 1967, attach a copy of U.S. Form 4684 and a
to exclude gains or losses from real or tangible property located
schedule showing the computation of gain subject to Michigan
in other states and/or subject to apportionment. To compute the
income tax.
portion subject to Michigan income tax for property acquired before
October 1, 1967, multiply the total gain by a percentage computed
Line 6: Enter in column D the gain from line 26, column F. Enter
by dividing the number of months held after September 30,
in column E the gain from line 26, column G.
1967 by the total number of months held. For the purpose of this
Line 10: Enter other ordinary gains and losses from your U.S.
computation, the first month is excluded if acquisition took place
Form 4797. Enter federal gain or loss in column D. Enter portion
after the 15th, and the last month is excluded if disposal took place
of gain or loss subject to Michigan income tax in column E.
on or before the 15th.
Line 13: Enter in column D the amount from line 25, column F.
Do not include on this form any gains or losses included in
Enter in column E the amount from line 25, column G.
the business income subject to apportionment on MI-1040H
Line 14: Enter gain or loss from U.S. Form 4684, lines 31 and
that are included on line 4 or line 11 of Schedule 1. Do not use
38a. If the gain or loss was from more than one casualty or theft,
this form to exclude gains or losses received while a part-
attach a copy of U.S. Form 4684 and a schedule showing the
year or nonresident that are allocated to another state on a
computation of gain or loss subject to Michigan income tax.
Schedule NR.
Line 20: Enter the total gain for each property from line 24 of
Line 2: Enter in columns A, B, C, and D the corresponding
your U.S. Form 4797 and enter the total gain for all properties in
information from your U.S. Form 4797. For column E, enter the
the total column.
gain or loss subject to Michigan income tax.
Attach this form to your MI-1040 or MI-1041.
Also attach a copy of your U.S. Form 4797 to your return.
+
0000 2012 69 02 27 9
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