Donna1
Level 4
12-06-2019
10:45 PM
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Is there an election in Lacerte for the Sec. 6221(b) for a partnership to elect out of the BBA regime (new audit rules)?
If Lacerte does not have the election, what is the procedure to make the election in the program.
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George4Tacks
Level 15
Donna1
Level 4
12-06-2019
10:45 PM
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One more question: I have checked both boxes (Partnership elect out and Include partner notification on K-1) and I see the notification on the K-1 but I do not see the election anywhere on the tax return. It is not on the Elections sheet. Also, I do not see where to list the partners names, ID and classification.
George4Tacks
Level 15
12-06-2019
10:45 PM
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Look at schedule B-2
Here's wishing you many Happy Returns
Here's wishing you many Happy Returns
Donna1
Level 4
12-06-2019
10:45 PM
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Oh my gosh!! Thank you so much!!!
George4Tacks
Level 15
12-06-2019
10:45 PM
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By George! You are welcome!!!!
Here's wishing you many Happy Returns
Here's wishing you many Happy Returns
