Answer :
Final answer:
In terms of AMT items, the excess of 2000B over 1500B depreciation for personal property should be reported on Schedule K. For Form 4797, gains requiring depreciation recapture should be reported in Part III. Within at-risk rules, losses from one activity can't offset income from another, unrelated activity.
Explanation:
The Alternative Minimum Tax (AMT) item that should be correctly reported on lines 17a through 17f of Schedule K is the 'Excess of 2000B depreciation over 1500B depreciation for personal property.' This is meant to capture the extra tax liability arising from accelerated depreciation methods.
In relation to Form 4797, the correct statement is 'Generally, gains on sales of trade or business assets in which depreciation recapture is required are reported in the Gain (Part III) section of page 2.' This is because the gains achieved from the sales of depreciable assets must be reported in the part where the depreciation recapture is calculated.
As for the at-risk rules, the true statement is that 'Losses from one activity CANNOT be used to offset the income from another activity which is not of the same type but can be used to offset the income from the same activity.' This statement explains how losses from separate activities are treated under the at-risk rules.
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