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When will Form K-1 be available for LaCerte 2020? I need it ASAP for tax planning

JZGilleo
Level 2
When I go to view the K-1 under the Forms tab, it says "This form is not available for this release."I am on the most current version of Lacerte 2020 Tax.
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6 Replies 6
sjrcpa
Level 15

Late January at the earliest is my guess.

IRS has not even finalized it yet.


ex-AllStar
IRonMaN
Level 15

You need a final K-1 for tax planning?  The system can't be massaged to get things roughed out?

Fast food was too difficult. Collecting aluminum cans seems to be the right fit. Call me if you have any - 867-5309.
JZGilleo
Level 2

Just being able to see how its flowing onto a K-1 would be very helpful, so that I can confirm no checkboxes were missed. 

They have the 1040 show with it watermarked "Do Not File", so I can't see why there isn't a K-1 like this.

I have a client with several layers of pass-throughs, so doing K-1's manually will be time consuming.

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Karl
Level 4

I think your only options are:

1) wait for release

2) re-run your scenario through 2019 software, accepting the changes in tax laws btwn years

3) draft them manually

*If this (or another answer/reply) solves your problem, please click "Accept as Solution" to get this post out of the "Unanswered" queue of posts.*
abctax55
Level 15

If you just can't "rough" out the numbers needed for year-end planning without a K-1, generate a "projected" one using the 2019 software.

Are you relying on the K1 data transfer option to do year-end planning?

Former Chump..umm... AllStar...This message was typed from 6 feet away so you can safely read it immediately.

If a post answers your question, click on *Accept as solution* for future searches
JZGilleo
Level 2

This is my first year using LaCerte.

K-1 data transfer has worked ok, but the entities end in Grantor Trusts and I can't see the Grantor Letter to use to enter on the 1040.

 

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