mhkdgal
Level 4

I am trying to data enter a completed 2019 tax return into Lacerte for an S-corp.  The 2019 return was done using UltraTax.  Shareholder has suspended losses from 2018.  There are both deductible items and non-deductible items listed out separately in the shareholder basis worksheet I received from the prior tax preparer.    Does Lacerte have a place to enter the prior year suspended losses (separated out by deductible and non-deductible items)?

Also, the S-corp had a loss again in 2019, so there are additional suspended losses to be carried forward for this shareholder.  Lacerte is showing the total of all the losses as suspended losses to carryforward.  Should it be including the non-deductible expenses in the loss to carryforward?

 

Thank you!

0 Cheers
abctax55
Level 15

Screen 20.2 

Left hand side under "Sections" about half way down.  Prior Year Unallowed Passive and also Basis Limitations.

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