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    • Created with Sketch. On January 27th, Intuit opens for individual e-filing. View ProConnect Hot Topics here.
    Created with Sketch. On January 27th, Intuit opens for individual e-filing. View ProConnect Hot Topics here.
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    Two Form 4797s - HELP!

    CaraMel
    Level 2
    ‎04-05-2022 11:56 AM
    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

    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.
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    CaraMel
    Level 2
    ‎04-05-2022 12:45 PM

    Thank you for the prompt help! I appreciate you!

    sjrcpa
    Level 15
    ‎04-05-2022 12:47 PM

    You're welcome.

    The more I know, the more I don't know.
    0 Cheers




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