Form 4797N Special Capital Gains / Extraordinary Dividend Election and Computation - Nebraska

What Is Form 4797N?

This is a legal form that was released by the Nebraska Department of Revenue - a government authority operating within Nebraska. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 4797N?
A: Form 4797N is a tax form used in the state of Nebraska to report special capital gains or extraordinary dividends.

Q: Who needs to file Form 4797N?
A: Individuals or businesses in Nebraska who have special capital gains or extraordinary dividends need to file Form 4797N.

Q: What is considered a special capital gain?
A: A special capital gain is a gain from the sale or exchange of property classified as special capital gain under Nebraska tax laws.

Q: What is an extraordinary dividend?
A: An extraordinary dividend is a nonrecurring dividend payment that is larger than the regular dividends provided by a company.

Q: What is the purpose of Form 4797N?
A: The purpose of Form 4797N is to report and calculate the tax owed on special capital gains or extraordinary dividends in Nebraska.

Q: Are there any filing deadlines for Form 4797N?
A: Yes, Form 4797N must be filed by the due date of the Nebraska income tax return, which is typically April 15th.

Q: Are there any penalties for not filing Form 4797N?
A: Failure to file Form 4797N or filing it late may result in penalties and interest charges imposed by the Nebraska Department of Revenue.

Q: Can I e-file Form 4797N?
A: As of now, e-filing is not available for Form 4797N. It must be filed by mail with the Nebraska Department of Revenue.

Q: Do I need to include any supporting documents with Form 4797N?
A: Yes, you may need to attach copies of relevant federal tax forms, such as Form 4797, to support your calculations on Form 4797N.