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New to Lacerte - how to prepare 990 and 990T for the same entity. Do two client IDs need to be made? Does one flow into the other?

Level 1

This is only my second year using Lacerte. This the first time I have needed to complete a 990 and 990T for an entity. I want to be sure I prepare them in the correct order (if there is one) as well as complete them correctly.

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Level 15

They are created with the same entity input. The key is to proper coding to exempt function income. Here are some FAQ to get you started. https://accountants-community.intuit.com/articles/1607878-form-990-990pf-990t-and-990n-miscellaneous...

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One of those links to the following statement:

How do I trigger form 990-T? 

In order to generate a 990-T return you must make an entry in Screen 1, Client Information in the section labeled Return Info for the field 990-T Return Type. Make any selection other than N/A

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You can also restore from C:\LACERTE\18TAX\DEMODATA\ a sample return Client No. EXM. Change the FEIN to all 9's and you can do an REP with no charge. That gives something to "play with" that will help you to possibly see how this works. Not an easy job - Good Luck. 


ex-AllStar

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Level 15

They are created with the same entity input. The key is to proper coding to exempt function income. Here are some FAQ to get you started. https://accountants-community.intuit.com/articles/1607878-form-990-990pf-990t-and-990n-miscellaneous...

---------------------

One of those links to the following statement:

How do I trigger form 990-T? 

In order to generate a 990-T return you must make an entry in Screen 1, Client Information in the section labeled Return Info for the field 990-T Return Type. Make any selection other than N/A

--------------------

You can also restore from C:\LACERTE\18TAX\DEMODATA\ a sample return Client No. EXM. Change the FEIN to all 9's and you can do an REP with no charge. That gives something to "play with" that will help you to possibly see how this works. Not an easy job - Good Luck. 


ex-AllStar

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