Form Mi-4797 - Michigan Adjustments Of Gains And Losses From Sales Of Business Property - 2013 Page 2
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22013 MI-4797, Page 2
Filer’s Social Security No.
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
after 10-1-67 by total number
Date acquired
Date sold
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...........................
26. Subtract line 25 from line 24. Enter portion in columns F and G from other
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 column F, line 26. Enter
by dividing the number of months held after
in column E the gain from column G, line 26.
September 30, 1967 by the total number of months held. For
Line 10: Enter other ordinary gains and losses from your U.S.
the purpose of this computation, the first month is excluded
Form 4797. Enter federal gain or loss in column D. Enter portion
if acquisition took place after the 15th, and the last month is
of gain or loss subject to Michigan income tax in column E.
excluded if disposal took place 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
Enter in column E the amount from line 25, column G.
in the business income subject to apportionment on
Line 14: Enter gain or loss from U.S. Form 4684, lines 31 and
MI-1040H that are included on Schedule 1, line 4 or line 13.
38a. If the gain or loss was from more than one casualty or theft,
1. Nonresidents and part-year residents, see instructions for
attach a copy of U.S. Form 4684 and a schedule showing the
Schedule NR, line 8.
computation of gain or loss subject to Michigan income tax.
Line 2: Enter in columns A, B, C, and D the corresponding
Line 20: Enter the total gain for each property from U.S. Form
information from your U.S. Form 4797. For column E, enter the
4797, line 24 and enter the total gain for all properties in the total
gain or loss subject to Michigan income tax.
column.
Attach this form to your MI-1040 or MI-1041.
Also attach a copy of your U.S. Form 4797 to your return.
+
0000 2013 69 02 27 7
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