Form 4797: 10 Things Every Business Owner Should Know Form 4797 is an IRS tax form used to report gains and losses from the sale or exchange of business property. In 2026, understanding when and how to use Form 4797 is important for business owners, investors, and taxpayers selling property used in a trade or business. The form generally covers depreciable and real property, including certain business assets and rental properties. Tax treatment can depend on factors such as holding period, depreciation, and Section 1231 rules. https://kmkventures.com/form-4797/