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Level 2
April 5, 2022
Question

Two Form 4797s - HELP!

  • April 5, 2022
  • 1 reply
  • 7 views
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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1 reply

sjrcpa
Level 15
April 5, 2022

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.
CaraMelAuthor
Level 2
April 5, 2022

Thank you for the prompt help! I appreciate you!

sjrcpa
Level 15
April 5, 2022

You're welcome.

The more I know the more I don’t know.