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15035: 4797 - Changes for Drake 17


Fed Returns Generally

What changes are there for screen 4797 beginning in Drake 17?

For Drake 17, the 4797 screen has been reorganized so that corresponding parts of the form are grouped together, and reprogrammed so that data can be entered and flow more efficiently to other sections/screens of the program. 

Beginning with Drake 17, there is now an option to check if an asset was from an Involuntary Conversion, Abandoned or Sold to a related party. These options are in the first part of the screen, below the Property Type field. 

 

In Drake 16 and prior, there was not an option to tie information entered on the 4797 to the 6252 for Installment Sales, however, beginning in Drake 17 you can tie the information entered on the 4797 to the 6252 by entering a MFC in Part IV under the Installment Sale MFC field.

 

In addition to being able to tie the information entered on the 4797 to the 6252 for Installment Sales, beginning in Drake 17 there is now an option to enter Group Sale Information directly on the 4797. This option, as well as the Installment Sale MFC, is under Part IV on this screen.

Note: Sale of assets will generally be entered on the 4797 or 4562 screen, not both. See Related Links below for more information.

For more information about Group sale and installment sale changes, see Related Links below. 


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