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NEW TO LACERTE-OVERPAYMENT APPLIED FROM 2018 APPEARED FROM NOWHERE

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Level 2

Hi all,

My firm switched from Ultratax to Lacerte this year. After conversion of data, all client data appear to be transferred properly. But one thing bothers me is that I found for every individual client, Lacerte calculated an overpayment applied from 2018 from no where. I have no idea how those number were calculated and they should not exist( most individual client don't pay estimate tax) . Anyone have a clue? Thank you. 

 

 

Mark.Ma

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Level 15

When converting, it is definitely not perfect. Given the resources I would review all of the 2018 returns for accuracy. That can help to prevent sucking up time during filing season. After a review, go to Screen 3 and look at the entry just BEFORE Organizer Miscellaneous. REMOVE the check box, then do the Proforma to 2019. This is especially important if you want state information to carry over correctly. Welcome to Lacerte! 

Possibly, if the 1040, Screen 7 - First entry is some number. It should be blank to not have any overpayment applied. 

 

 


ex-AllStar

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5 Replies 5
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Level 15

No clue but there are always errors when converting from one software to another. It is good that you are checking. You'll need to delete this erroneous refund applied to 2019 estimated tax.


ex-AllStar
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Level 2

Thanks a lot. I guess that's only thing I can do now. 

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Level 15

You're welcome, and welcome to the Community.


ex-AllStar
Highlighted
Level 15

When converting, it is definitely not perfect. Given the resources I would review all of the 2018 returns for accuracy. That can help to prevent sucking up time during filing season. After a review, go to Screen 3 and look at the entry just BEFORE Organizer Miscellaneous. REMOVE the check box, then do the Proforma to 2019. This is especially important if you want state information to carry over correctly. Welcome to Lacerte! 

Possibly, if the 1040, Screen 7 - First entry is some number. It should be blank to not have any overpayment applied. 

 

 


ex-AllStar

View solution in original post

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Level 2

Thanks for the advise.  

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