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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
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- Re: Two Form 4797s - HELP!
Two Form 4797s - HELP!
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CaraMel
Level 2
04-05-2022
11:56 AM
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I use ProConnect for my returns. I have a client who sold a backhoe, which generated a form 4797. Now ProConnect is giving me TWO 4797 forms - a "regular" one and one with the additional words "Alternative Minimum Tax." I'd like to know why and how to get rid of one of them. The amount shown on Schedule 1 is the amount listed on the "regular" 4797.
Does anyone know why ProConnect generated both of these form 4797s and how to fix it?
THANK YOU in advance!
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3 Comments 3
sjrcpa
Level 15
04-05-2022
12:43 PM
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Leave them both. The gain or loss for AMT purposes can be different than for regular tax purposes.
The more I know, the more I don't know.
sjrcpa
Level 15
04-05-2022
12:47 PM
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You're welcome.
The more I know, the more I don't know.
