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Partner notice of electing out of consolidated audit rules in Lacerte

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Does Lacerte have a box to mark that prints the partner notification regarding the partners electing out of the centralized partnership audit regime under Section 6221(b)?

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Level 15

You need to develop your own wording (based on the IRS *suggestions*) and enter it globally so it prints as a note for each K-1.

Former Chump... umm.... AllStar.
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Level 15

You need to develop your own wording (based on the IRS *suggestions*) and enter it globally so it prints as a note for each K-1.

Former Chump... umm.... AllStar.
If a post answers your question, click on *Accept as solution* for future searches

View solution in original post

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Level 1
how do you do that in Proseries?
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Lacerte added a box to elect out and include the wording automatically in the "Partner Misc" section.  Might look for the equivalent in Proseries
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Actually as I look closer the actual box for all partners to elect out is in Other information (Schedule B)
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Level 1
Yes question #25 in schedule B other information prints schedule B-2 fine, but that doesn't appear anywhere on the partner's K-1.  I have to manually add additional information to every K-1 to notify the partners of the election made . . . a REAL pain with larger partnerships
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Level 1

As you probably know, there is no suggested method of notification.

Some could be notified as a footnote on the K-1, etc.

As a result, I doubt this is a priority for the programmers.

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Level 1
Lacerte has added the statement. See checkbox on screen 5
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Level 1
Can't see your screens.  Also I'm using ProSeries
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Level 15
Then you should consider posting on a PS thread as this is a Lacerte one.
Former Chump... umm.... AllStar.
If a post answers your question, click on *Accept as solution* for future searches
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