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Entering partnership K-1, Line 20 code AH on individual returns in Lacerte

SOLVEDby IntuitLacerte Tax27Updated March 30, 2022

Lacerte doesn't have one specific entry field for Schedule K-1, Line 20, code AH. The firm that prepared the partner's K-1 should have included a description of the information and instructions on how to report the information on the partner's individual return. If the firm did not include a description and/or instructions, you'll need to decide where the other information should be reported.

For a full list of items that could be represented on this line, refer to Partners Instructions for Schedule K-1.

Some of the more common input items in Lacerte are as follows:

  1. Go to Screen 78, Tax Shelter Statement (8886).
  2. Enter all applicable information as reported on the Schedule K-1 to complete Form 8886.
  1. Go to Screen 45, Other Taxes.
  2. Select Schedule J, Recapture, Other Taxes from the left Taxes menu.
  3. Select Other Taxes from the lower-left sections menu.
  4. Locate the field Other taxes (Ctrl+E) at the end of this screen.
  5. Use CTRL + E or select the icon, to open the input window.
  6. In the description column enter Section 409A.
  7. Enter the Amount and select OK.
  1. Go to Screen 34, General Business and Vehicle Credits.
  2. Select Add from the left panel.
  3. From the left section menu choose Credits.
  4. In the Form (Ctrl+T) dropdown menu, choose Schedule E (partnership).
  5. Select an option for the Activity name or number (Ctrl+T).
  6. Scroll to the next section, Investment Credit (3468).
  7. Scroll down to the Coal Project Credit subsection.
  8. Enter the applicable amounts from the K-1 for Form 3468, lines 5a-5c in these fields:
    • Basis in integrated gasification cycle property (20%)
    • Basis in investment in coal-based generating technology property (15%)
    • Basis on investment in coal-based generation technology property (30%)
  1. Go to Screen 34, General Business and Vehicle Credits.
  2. Select Add from the left panel.
  3. From the left section menu choose Credits.
  4. In the Form (Ctrl+T) dropdown menu, choose Schedule E (partnership).
  5. Select an option for the Activity name or number (Ctrl+T).
  6. Scroll to the next section, Investment Credit (3468).
  7. Enter the applicable amounts from the K-1 for Form 3468, lines 6a-6b in these fields:
    • Basis of property qualifying for gasification project credit, incl. CO2 sequestration (30%)
    • Basis of property qualifying for gasification project credit (20%)
  1. Go to Screen 34, General Business and Vehicle Credits.
  2. Select Add from the left panel.
  3. From the left section menu choose Credits.
  4. In the Form (Ctrl+T) dropdown menu, choose Schedule E (partnership).
  5. Select an option for the Activity name or number (Ctrl+T).
  6. Scroll to the next section, Investment Credit (3468).
  7. Enter the applicable amounts from the K-1 for Form 3468, line 7 in Basis of investment in advanced energy project.
  1. Go to Screen 45, Other Taxes.
  2. Select the Self-Employment Taxes (Schedule SE) section from the left Taxes menu.
  3. Scroll down to the field Conservation reserve payments not subject to SE tax.
  4. Select the icon in the input field to enter the amounts.

Related topics:

Entering a partnership Schedule K-1, line 20 in the Individual module

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