4797 is for the disposal or exchange of assets you had from a business or rental property. Possibly a partnership. Example could be a vehicle you owned. If your business no longer exists, you still must dispose of the assets.. To change or delete an existing 4797: Open (continue) your return, search for 4797, sale of business property (use this exact phrase) and then click the "Jump to" link in the search results. On the Any Other Property Sales? screen, select the first checkbox and click Continue (do this even if you want to delete the 4797). Answer No if the Sales of Business or Rental Property screen appears afterward. The next screen should display an Edit or Delete option next to the form. Tip: If you're still unable to edit or delete the 4797, refer to the alternate instructions at the bottom to delete the form. Then, if editing, add the 4797 back, making sure to incorporate the updated info.
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