Generating the 7217 in ProSeries

This article will help you get the 7217 in the partnership, S corporation, or individual tax return starting in 2024. This informational form won't impact the calculations on the tax return but may be required by the IRS. This form isn't automatically e-filed with the return and will need to be included as a PDF attachment. See the IRS instructions for who must file this form.

To generate the 7217 in the 1040 return:

1. Open the clients return.
2. Complete the 7217 form from the IRS website and save a completed copy as PDF.
3. From the E-File menu, select Attach PDF Files.
4. Select the Add Attachment button.
5. Browse to the PDF created in step 9.
6. Under Type column, select Form 7217.

To generate the 7217 in the 1065 return:

1. Open the clients return.
2. Press F6 to bring up Open Forms.
3. Type 7217 to highlight the Form 7217.
4. Select OK to create a new copy, enter the copy name and select Next.
5. Select which K-1 to link the 7217 to and select Finish.
6. Enter the Date property was distributed to partner. You'll need one 7217 for each distribution date.
   • Use the QuickZoom to another copy of Form 7217 button to enter additional copies.
7. Complete Part I, Aggregate Basis of Distributed Property on Distribution Date.
8. In Part II, enter the property that was distributed on the date.
   • Make any basis adjustments as needed, such as 732(a)(2) or 732(b). See the IRS instructions for 7217 for more information.
9. If e-filing: Print the completed 7217 to PDF. See the Partial selected forms instructions here.
10. From the E-File menu, select Attach PDF Files.
11. Select the Add Attachment button.
12. Browse to the PDF created in step 9.
13. Under Type column, select Form 7217.

To generate the 7217 in the 1120S return:

1. Open the clients return.
2. Press F6 to bring up Open Forms.
3. Type 7217 to highlight the Form 7217.
4. Select OK to create a new copy, enter the copy name and select Next.
5. Select which K-1 to link the 7217 to and select Finish.
6. Enter the Date property was distributed to partner. You'll need one 7217 for each distribution date.
   • Use the QuickZoom to another copy of Form 7217 button to enter additional copies.
7. Complete Part I, Aggregate Basis of Distributed Property on Distribution Date.
8. In Part II, enter the property that was distributed on the date.
   • Make any basis adjustments as needed, such as 732(a)(2) or 732(b). See the IRS instructions for 7217 for more information.
9. If e-filing: Print the completed 7217 to PDF. See the Partial selected forms instructions here.
10. From the E-File menu, select Attach PDF Files.
11. Select the Add Attachment button.
12. Browse to the PDF created in step 9.
13. Under Type column, select Form 7217.