ken mckenney
Level 1
03-06-2020
09:02 AM
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where do I input IRS interest rates for form 2220 ?
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George4Tacks
Level 15
03-06-2020
09:39 AM
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https://proconnect.intuit.com/community/help-articles/help/how-to-enter-federal-and-state-interest-r... is for all products
For Lacerte:
To enter/edit the federal and state interest rates in the global options:
- Click on Settings.
- Click on Options.
- Select the Interest Rates tab.
- Click on the Get Interest Rates button to download the interest rates or manually enter the IRS interest rates for each period (format is X.XX).
- Scroll down to the State Interest Rates section.
- Enter the state rates manually for each period (format is X.XX).
To enter the state interest rates for a specific client file or for a multi-state return:
- Go to the Penalties & Interest screen:
- Screen 8, Penalties & Interest (2210) (Individual)
- Screen 11, Penalties & Interest (2220) (Corporate)
- Screen 11, Penalties & Interest (2220) (S Corporate)
- Screen 13, Penalties & Interest (2210) (Fiduciary)
- Screen 14, Penalties & Interest (Exempt Organization)
- Scroll down to the State Interest Rates section.
- Enter the applicable interest rates under the Overrides Entries in Options (10 for 10%) subsection.
- For multi-state returns (except Exempt Organization):
- Hold down Ctrl+E for the applicable quarter.
- Enter the Amount.
- Select the applicable State from the drop down menu.
- Click OK once complete.
- Repeat steps i-iii for each applicable quarter and each state.
Here's wishing you many Happy Returns
sjrcpa
Level 15
03-06-2020
09:54 AM
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If you are on a network you have to do this in Master Options.
Ex-AllStar