How to file Form 4720 in ProConnect Tax

This article will give the instructions for generating and filing Form 4720. The 4720 can be generated for exempt organization returns (990), fiduciary returns (1041), and individual returns (1040) in ProConnect Tax.

To file a 4720 in an Exempt Organization return:

1. From the Profile tab, select the Federal 4720 for e-file by checking the box under Select for E-file.
2. From the Input Return tab, go to Credits & Taxes ⮕ Certain Excise Taxes (4720) ⮕ Misc. & Schs B, G, N, O.
3. Check the box labeled Prepare Form 4720 with complete return.
4. Make any other applicable inputs on this screen and the other screens under Certain Excise Taxes (4720):
   • Misc & Schs B, G, N, O
   • Business Holdings Tax (Schedule C)
   • Tax Activity
   • Persons Taxed
   • Schedule M
   • 4720 Amended{}
5. To e-file the 4720, go to the File Return screen and select E-File Return and make sure that the federal 4720 is selected to send with the e-file on this screen

To file a 4720 in a Fiduciary return:

1. From the Profile tab, select the Federal 4720 for e-file by checking the box under Select for E-file.
2. From the Input Return tab, go to Misc. Forms ⮕ Certain Excise Taxes (4720) ⮕ Miscellaneous.
3. Check the box labeled Prepare Form 4720.
4. Make any other applicable inputs on this screen and the other screens under Certain Excise Taxes (4720):
   • Miscellaneous
   • Business Holdings Tax (Schedule C)
   • Tax Activity
   • Persons Taxed
   • 4720 Amended Return
5. To e-file the 4720 go to the File Return screen and select E-File Return and make sure that the Federal 4720 is selected to send with the e-file on this screen.

To file a 4720 in an Individual return:

1. From the Profile tab, select the Federal 4720 for e-file by checking the box under Select for E-file.
2. From the Input Return tab, go to Miscellaneous Forms ⮕ Certain Excise Taxes (4720) ⮕ Miscellaneous.
3. Check the box labeled Prepare Form 4720.
4. Make any other applicable inputs on this screen and the other screens under Certain Excise Taxes (4720):
   • Miscellaneous
   • Tax Activity
   • Persons Taxed
   • 4720 Amended Return{}
5. To e-file the 4720 go to the File Return screen and select E-File Return and make sure that the Federal 4720 is selected to send with the e-file on this screen.