TaxGuyBill
Level 15
02-26-2021
02:16 PM
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I believe it is only taxable to the extent that the distribution is in excess of Basis.
With that being said, is the program still not doing it correctly?
If it is still not doing it correctly, hopefully a Lacerte user will come by and give some input (I use ProSeries, so I can't help you with the Lacerte-specific things).