Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Lacerte Tax
- :
- Lacerte Tax Discussions
- :
- Federal Basis Limitation Worksheet
Federal Basis Limitation Worksheet
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
amacpa
Level 3
09-28-2021
01:00 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
While entering a K1 (Partnership) for a PTP, as a Limited Partner, and entering the Partner's share of liabilities, in particular the beginning and ending values for the Non-Recourse liabilities, the Federal Basis Limitation Worksheet is accounting for the 'Change in Partner's share of liabilities' for the opening and closing change. I was of the understanding that 'Non-Recourse' liabilities is not a factor in determining the EOY Adjusted Basis.
The Lacerte program is including this change. Is this correct?
Labels
1 Comment 1
