Tax Law (Questions About Taxes)/form 4797 or 8949?


My husband and I sold a rental house last year that we had in an LLC. We have owned the property for more than 5 years, have never lived in it and made a profit. I'm confused as to whether I need to use form 4797, 8949 or both? I did not receive any 1099 form that I am aware of.

I have the same question about some vacant land that we sold that was not in an LLC for which I received a 1099-S form.

Thank you for your help.


Thanks for your question.

You should start with Form 4797 and go where it directs you. You do not use Form 8949 as rental property is not defined as capital assets.

The vacant land is a capital asset and should be on your 8949.  It is not a business assets, so it does not go on the 4797

Hope this helps.

John Stancil, CPA

Tax Law (Questions About Taxes)

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John Stancil, CPA


I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at I also offer seminars and consultations to churches and clergy on their tax issues at Also visit my blog, I am listed on Tax Connections at Prepare and file your own taxes at


I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

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