Generating Form 4626 in ProConnect Tax

This article will help you generate Form 4626, Alternative Minimum Tax for Corporations, in ProConnect Tax.

The IRS has made changes to the structure of Form 4626 for tax year 2024 including adding a new 4626 - Schedule A.

To generate Form 4626 in tax year 2023 and prior:

1. Review the IRS instructions to determine if the corporation is subject to AMT.
2. Go to Input Return ⮕ Taxes ⮕ Alternative Minimum Tax (4626).
3. Check the Include Form 4626 with return box.
4. Enter any adjustments as needed to Part I.
5. Complete Part V if required.
6. If the client also has CFCs Described in Section 56A(c)(3) review the IRS instructions to see if Schedule A is required. If required:
7. Select Form 4626, Schedule A from the left section.
8. Complete the tables as needed.

To generate Form 4626 in tax year 2023 and prior:

1. Review the IRS instructions to determine if the corporation is subject to AMT.
2. Go to Input Return ⮕ Taxes ⮕ Alternative Minimum Tax (4626).
3. Check the Include Form 4626 with return box.
4. Enter any adjustments as needed to Part I.
5. Complete Part V if required.