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Entering postponed gain from casualty or theft

rmalloy
Level 1

We acquired a new client that has a postponed gain from casualty or theft and I am trying to figure out how to enter that in Lacerte that it carries forward till they need to recognize it. How do I do that?

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1 Solution

Accepted Solutions
George4Tacks
Level 15

Use NOTES to attach the required statement.

https://www.irs.gov/publications/p547#en_US_2020_publink1000225390


Here's wishing you many Happy Returns

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1 Comment 1
George4Tacks
Level 15

Use NOTES to attach the required statement.

https://www.irs.gov/publications/p547#en_US_2020_publink1000225390


Here's wishing you many Happy Returns