ProConnect Tax Idea Exchange

Where is form 7217? Apparently no one told ProConnect that they were going to have to add a new form this year to the form 1065... https://www.irs.gov/forms-pubs/about-form-7217 - this should be integrated as an option on asset disposals and then linked to 19b on the Sch K, pg 5 of the 1065 and then also the partners K-1s box 19 as well.

Status:

Vote now if this is a good idea

Comments

Level 15

Are you sure you need it?

In my experience it is rare that property is distributed.

Mostly it's cash.

Level 1

Yes - the entity is liquidating. Real estate is being quit-claimed & deeded to individual owners who are holding the property.

Level 15

I guess you are SOL for ProConnect.

Can you fill it out manually and attach as a pdf?

Level 1

Yes, PDFs are already done- all 4 partners and all 8 properties.

Thanks for the idea to support Form 7217. We are changing the status to "Open for voting".

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