david-chau's Posts

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david-chau's Posts

Yes, the gain for CA is equal to the gain for Federal, for both years. However, in 2017 Lacerte generated a 3805E and a CA Sch D-1. Lacerte did not generate either forms for 2018.
A client sold a house in 2017 in an installment sale resulting in some gain. She received the first installment payment in 2017 and Lacerte generated both a 6252 and CA 3805E. No Problem. In 2018, t... See more...
A client sold a house in 2017 in an installment sale resulting in some gain. She received the first installment payment in 2017 and Lacerte generated both a 6252 and CA 3805E. No Problem. In 2018, the client received the second installment payment. This time Lacerte generated a 6252 with Part II properly populated. However, for California, Lacerte would not generate a 3805E, even though it properly populated Part II of it just as it did with the 6252.
Yea I know, the box is checked but the numbers on the new K-1 stays the same as the old K-1. I double checked the 1065X and I am sure I had filled it out properly. (It is a simple amendment where I ch... See more...
Yea I know, the box is checked but the numbers on the new K-1 stays the same as the old K-1. I double checked the 1065X and I am sure I had filled it out properly. (It is a simple amendment where I change Ordinary business income from 600 thousand to 450 thousand.)
Does Lacerte amend the K-1 automatically after I amend the 1065?  If not, how do I do it?
How do I enter a tiered partnership's K-1 into Lacerte?  This k-1 I received is from Energy Transfer LP, and it actually includes 4 different PTPs. If each PTP needs to be entered separately into La... See more...
How do I enter a tiered partnership's K-1 into Lacerte?  This k-1 I received is from Energy Transfer LP, and it actually includes 4 different PTPs. If each PTP needs to be entered separately into Lacerte, how do I tell Lacerte that every one of these 4 PTP is a component part of the same K-1?
A taxpayer I work with was a victim of the California Wildfire, and he received a check from the Thomas Fire Relief Fund in 2018.  Is this relief money taxable? If it is, how do I enter it into Lac... See more...
A taxpayer I work with was a victim of the California Wildfire, and he received a check from the Thomas Fire Relief Fund in 2018.  Is this relief money taxable? If it is, how do I enter it into Lacerte?