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Generating Form 7207 in ProConnect Tax

SOLVEDby IntuitUpdated 1 month ago

Starting in tax year 2023, you can generate Form 7207 in ProConnect Tax. This Form is for the Advanced Manufacturing Production Credit. To review the IRS instructions, see here. To see how to generate the form in ProConnect Tax, select your tax type:

PartnershipCorporateS-Corp

Generating the 7207 in the Partnership module:

  1. Go to Input Return Schedule K Credits.
  2. Select Advanced Manufacturing Production Credit.
  3. Complete Part 1 Facility Information for each facility.
  4. From the Sections select the Part that's applicable for this client.
  5. Complete any applicable information.

Generating the 7207 in the Corporate module:

  1. Go to Input Return Credits. General Business Credits (3800)
  2. Select Advanced Manufacturing Production Credit.
  3. Complete Part 1 Facility Information for each facility.
  4. From the Sections select the Part that's applicable for this client.
  5. Complete any applicable information.

Generating the 7207 in the S-corporate module:

  1. Go to Input Return Schedule K Credits
  2. Select Advanced Manufacturing Production Credit.
  3. Complete Part 1 Facility Information for each facility.
  4. From the Sections select the Part that's applicable for this client.
  5. Complete any applicable information.

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