Dorothy-L-Lewis
Level 1
12-07-2019
09:18 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
where do I input info
Best Answer Click here
Labels
PhoebeRoberts
Level 11
12-07-2019
09:18 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
In the Oil & Gas section of the K-1 input. You should have a diagnostic that says, "you entered IDC but not the excess IDC amount. Go enter the excess amount."
PhoebeRoberts
Level 11
12-07-2019
09:18 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Once you've entered it, there's a calculation on the O&G worksheets that shows whether and how much of the excess IDC is an AMT adjustment. Lacerte's calculation of the AMT adjustment is reliable.
abctax55
Level 15
12-07-2019
09:18 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Input into which module?
"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
( Generic Comment )"
emcneill
Level 1
12-07-2019
09:18 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Can you tell me how to input code 17D,E, & F from a K-1 to the fiduciary module?
PhoebeRoberts
Level 11
12-07-2019
09:18 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Screen 25, Oil & Gas section.
D is Gross Income Oil & Gas (20T)
E is Gross Deductions Oil & Gas (20T)
F could be a bunch of stuff; what's the K-1 detail say? If excess IDCs, you enter it on the line called excess IDCs.
D is Gross Income Oil & Gas (20T)
E is Gross Deductions Oil & Gas (20T)
F could be a bunch of stuff; what's the K-1 detail say? If excess IDCs, you enter it on the line called excess IDCs.
emcneill
Level 1
12-07-2019
09:18 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
It is excess IDC.
PhoebeRoberts
Level 11
12-07-2019
09:18 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Then you put it on the third line in that tax preference section, the one called excess IDCs.