Does the Lacerte tax planner calculate the CA TMT limitations related to the pass through entity tax credit that is beginning with 2021?
Yes, I saw that after the fact, but it does not directly answer the question - does the Lacerte Tax Planner make these calculations?
I have not tested it.
Based on that other discussion, I truly doubt that it does. You can post it as a suggested improvement at https://proconnect.intuit.com/community/lacerte-tax-idea-exchange/idb-p/604 but don't hold your breath waiting for any of these ideas to be implemented. I could not find a similar idea posted there.
Spreadsheets will be our friends.
Unless TaxTools that George @George4Tacks , Anna @abctax55 , and others recommend does these calcs. Don't know if it does state stuff.
CFS TaxTools is based in CA, and their California tax planner is rather good.
I haven't checked to see how/if it's handling this newest CA wrinkle.
You can download & use the software as a demo; consider giving it a try.
taxtools.com
That's good info, thanks for the follow-up. Guess I better down load the update & start some number crunching 😁
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