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CCH Axcess Tax

Form 4797

Note: If the Automatic Sale feature is used, the alternative minimum tax amounts should be entered in the appropriate fields on the depreciation worksheets. If the Automatic Sale feature is not used and there are differences between the regular tax and the alternative minimum tax computations resulting in an AMT basis adjustment, the disposition can be entered on separate sheets of the Capital Gains and Losses - Schedule D and Form 4797 section using an AMT code "Regular tax only" for the regular tax and AMT code "Alternative minimum tax only" for the alternative minimum tax input. When the code is blank, it is assumed there is no difference. An AMT version of Form 4797 is produced whenever an AMT basis adjustment is computed unless the suppression of AMT gain (loss) forms is selected in the Return Configuration Set or on Return Options worksheet, Processing Options section.

Government Form CCH Axcess Input
  Worksheet Section Field
Name   General > Basic Data General S corporation name
  General > Basic Data General S corporation name continued
Identifying number   General > Basic Data General Employer identification number
1   Income/Deductions> Gains and Losses Section 179 and 280F Recapture Gross proceeds from Form 1099-S
2a   Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Description
2b   Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Date acquired - Leave blank if automatic sale
2c   Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Date sold - Leave blank if automatic sale
2d   Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Sales price / reimbursement if Property type contains code 1231 and dates show long term holding period A code ‘L’ must be entered in Holding period if dates are not entered
2e   Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Total depreciation – Leave blank if automatic sale
2f   Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Cost or other basis and Expenses of sale - Leave blank if automatic sale
2g Calculated      
  Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Other gain (loss) - Override
  Income/Deductions > Passthrough Items Income (Loss) Net Section 1231 gain (loss) - Override
2h Calculated based on sale dates entered or Holding period code of P
3 From Form 4684, line 42
4 From Form 6252, line 26 or 37
5 From Form 8824, line 14 or 22
6 From Form 4797, line 32, less any casualty gains
7 Calculated      
8 N/A for S corporations
9 N/A for S corporations
10a   Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Description
10b   Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Date acquired - Leave blank if automatic sale
10c   Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Date sold - Leave blank if automatic sale
10d   Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Sales price / reimbursement if Property type contains code 1231 or ORD and dates show short-term holding period A code ‘S’ can be entered in Holding period if dates are not entered
10e   Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Total depreciation – Leave blank if automatic sale
10f   Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Cost or other basis and Expenses of sale – Leave blank if automatic sale
10g Calculated      
  Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Ordinary gain - Override
11 N/A for S corporations
12 N/A for S corporations
13 From Form 4797, line 31
14 From Form 4684, lines 34 and 41a
15 From Form 6252, line 25 or 36
16 From Form 8824, line 14 or 22
17 N/A for S corporations
18 Calculated      
18b(1) N/A for S corporations
18b(2) N/A for S corporations
19   Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Description
19 (date acquired)   Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Date acquired - Leave blank if automatic sale
19 (date sold)   Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Date sold - Leave blank if automatic sale
20   Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Sales ;price / reimbursement if Property type contains code 1245, 1250, 1252, 1254 or 1255
21   Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Cost or other basis and Expenses of sale – Leave blank if automatic sale
22 Calculated from automatic sale      
  Income/Deductions > Gains and Losses Section 1245 and 1250 property

Depreciation not subject to recapture

Depreciation subject to recapture - Overrides

23 Calculated      
24 Calculated      
25a Calculated from automatic sale
  Income/Deductions > Gains and Losses Section 1245 and 1250 property

Depreciation subject to recapture

Depreciation not subject to recapture

  Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Total depreciation - Overrides
25b Calculated      
  Income/Deductions > Gains and Losses Detail > Capital Gains and Losses – Schedule D and Form 4797 Ordinary gain - Override
26a Calculated from automatic sale
  Income/Deductions > Gains and Losses Section 1245 and 1250 property Excess depreciation – after 12/75 - Override
26b Calculated based on Recapture type
26c Calculated      
26d Calculated from automatic sale
  Income/Deductions > Gains and Losses Section 1245 and 1250 property Excess depreciation – 12/69 - 12/75 - Override
26e Calculated based on Recapture type
26f Section 291 (not an override for S corporation)
26g Calculated      
27a   Income/Deductions > Gains and Losses Section 1252, 1254, 1255, Form 4684 and Other Adjustments Soil, water expense
27b Calculated, based on holding period
27c Calculated      
28a   Income/Deductions > Gains and Losses Section 1252, 1254, 1255, Form 4684 and Other Adjustments IDC recapture
28b Calculated      
29a   Income/Deductions > Gains and Losses Section 1252, 1254, 1255, Form 4684 and Other Adjustments Section 126 recapture
29b Calculated      
30 Calculated      
31 Calculated      
32 Calculated      

Note: Part IV is automatic based on entries in the Depreciation and Amortization sections for the exclusion percent when below 50% and prior year percents are entered.
33a   Income/Deductions > Section 179 and 280F Recapture and Section 179 Transactions Report Section 179 and 280F Recapture Section 179 expense taken
33b   Income/Deductions > Section 179 and 280F Recapture and Section 179 Transactions Report Section 179 and 280F Recapture Section 280F deduction taken
34a   Income/Deductions > Section 179 and 280F Recapture and Section 179 Transactions Report Section 179 and 280F Recapture Section 179 depreciation that would have been allowed
34b   Income/Deductions > Section 179 and 280F Recapture and Section 179 Transactions Report Section 179 and 280F Recapture Section 280F depreciation that would have been allowed
35a Calculated      
35b Calculated      
                                                   
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