sold Letterpress type- tax info/forms ?

Just wondering if anyone can point me in the right direction. My father sold letterpress type in 2009, and I’m trying to help him know where to put the info on tax forms. I’m starting to look at Form 4797 (Sales of Business Property) and Publication 544 (Sales and other dispositions of assets). If anyone has sold type and can point me in the right direction, I’d appreciate it.

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Does he run a printing business or is it just a personal item he decided to sell?

He had a small printing business. It looks like the equipment has been depreciated. However, he is in his 80s, and doesn’t remember how he did things. No depreciation is listed in the last two years. I’m thinking we need to show the money we made as a gain, but haven’t finished reading all the instructions yet. They mention Section ___ property, etc. I’m guessing it is depreciable property, it has been depreciated down to 0, so we would have to report a gain.


It would likely have been depreciated property if it was done correctly. Estimate the year of purchase if you can’t find the depreciation data.

Fill out Part I of Form 4797. This is transferred to Schedule D Part II and Part III. If you don’t want to pay taxes on it you have to work out the numbers on the Rate Gain Worksheet (included in your tax booklet).