eeyore
Level 3

I have a client who took distributions in excess of basis, which needs to be recognized as a long-term capital gain on his individual return.  Also, I need to add this gain to his basis.  I thought that Lacerte could do this automatically.  I read in the Pro-Connect section that these steps aren't necessary if the K-1 transfer utility has already bridged the information into Screen 17.  

Can someone tell me where to find the K-1 transfer utility?  I've been doing it manually for way too long!

Thanks,

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