Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Form 709 - Gift Tax Return - Annual Exclusion

Highlighted
Level 1

Reporting taxpayer's (and wife's) gift to a trust.  The gift was not subject to a Crummey Withdrawal right, so no ability to use annual exclusion for gift to the trust.  No annual exclusion amount was entered; however, the software will not remove the $15,000 annual exclusion on Part 4 Taxable Gift Reconciliation.  I have tried different things for over an hour.  Ideas?  

Labels (1)
0 Cheers
2 Replies 2
Highlighted
Level 15

Try overriding with "-1". 


ex-AllStar
0 Cheers
Highlighted
Level 1

Thanks!  I had tried that, but not being very familiar with Lacerte, I was trying that in the wrong place.  After holding for help for 1.5 hours, I was able to get it in the correct place.  Thank you for your input.  At least I knew I was close and I knew it had to be there somewhere.  I didn't know about the whole "hover over the field" and see if there is an override popup.  That will be useful information going forward.