Yeah, most of the critical diagnostics won't cause an e-file to reject (or fail to be transmitted, which is worse). That one specifically is not a problem for e-file.
I think you have the same bug as this person, then: https://proconnect.intuit.com/community/proconnect-tax-discussions/discussion/why-does-my-form-6252-line-1have-code-6-when-only-4-codes-is/01/22476...
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I think you have the same bug as this person, then: https://proconnect.intuit.com/community/proconnect-tax-discussions/discussion/why-does-my-form-6252-line-1have-code-6-when-only-4-codes-is/01/224760#M21669
Do you have multiple assets linked together as a bulk sale? If so, either unlink, or remove the installment sale input from the one that isn't the main asset in the link.
From the Client Information screen, in the Returns section at the very top left, delete California.
Note also that California may disagree with your conclusion regarding the need for a CA return.
Only losses suspended for lack of basis or at-risk get entered into the K-1 input screen and the 7203. If there's an NOL, those losses already got past the basis and at-risk hurdles.
Oklahoma person here.
Assuming you actually have an Oklahoma NOL (which Lacerte either doesn't calculate, or doesn't calculate correctly - you have to manually prepare a 511-NR-NOL from https://o...
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Oklahoma person here.
Assuming you actually have an Oklahoma NOL (which Lacerte either doesn't calculate, or doesn't calculate correctly - you have to manually prepare a 511-NR-NOL from https://oklahoma.gov/tax/forms.html), the carryover goes in Screen 15, NOL Deduction, Cur. Yr NOL / Misc, in the first two fields.
You've determined that the appropriate treatment is to calculate depletion at the partner level, and that statutory (percentage) depletion at 5% without regard to basis is appropriate? I'd just use S...
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You've determined that the appropriate treatment is to calculate depletion at the partner level, and that statutory (percentage) depletion at 5% without regard to basis is appropriate? I'd just use Screen 30 or 31 to memo the tentative depletion deduction.
The K-1 export is not going to do the depletion calculation at the 1040 level automatically, regardless of your 1065 input.
Are those fields correctly formatted as dates? When you do the import, if those columns are grayed out when you link them to Date Acquired and Date Sold, Lacerte doesn't recognize the date format you...
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Are those fields correctly formatted as dates? When you do the import, if those columns are grayed out when you link them to Date Acquired and Date Sold, Lacerte doesn't recognize the date format you're using.
There are a couple of big brokerages that do their gain-loss exports with a non-standard date format, and I have to use formulas to get them into something that Excel and Lacerte recognize as a date.
Oooh, that's a tricky one. I can't get a great presentation, but this seems likely to be better than what you have:
The S in the source column means "this is a state adjustment and shouldn...
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Oooh, that's a tricky one. I can't get a great presentation, but this seems likely to be better than what you have:
The S in the source column means "this is a state adjustment and shouldn't affect the federal return."
You're going to have to manually calculate any Other State Tax Credit and override in Screen 52.401.
It's possible you could get a better presentation by using multiple Lacerte clients, but I don't think you can get a better presentation that still permits e-filing.
The leaving partner's remaining capital account gets distributed among the remaining partners. (IRC 704 presumably tells you how; I don't know off the top of my head.) This is one of the reasons that...
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The leaving partner's remaining capital account gets distributed among the remaining partners. (IRC 704 presumably tells you how; I don't know off the top of my head.) This is one of the reasons that capital accounts don't represent outside basis.
Screen 22.1, Other Schedule K Items
Other Information section
Other Items (Line 20c)
Other items (Crtl+E)
K-1 Code AH for Other. Enter your description. Enter the amount for the entire partne...
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Screen 22.1, Other Schedule K Items
Other Information section
Other Items (Line 20c)
Other items (Crtl+E)
K-1 Code AH for Other. Enter your description. Enter the amount for the entire partnership. Repeat as needed.
You can enter their information directly in the Child and Dependent Care Expenses screen. It's possible that this return won't pass e-file specs, and will need to be filed on paper.
Note that your method is also George4Tax's preferred method, as per his response to this post more than 2 years before yours.
Much of the rest of the thread involves discussion of the pros and cons...
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Note that your method is also George4Tax's preferred method, as per his response to this post more than 2 years before yours.
Much of the rest of the thread involves discussion of the pros and cons of that method.
