How to generate Form 8992 in Lacerte

This article will assist you with generating Form 8992, U.S. Shareholder Calculation of Global Intangible Low-Taxed Income (GILTI), in the Individual module of Lacerte.

To generate Form 8992 in the program:

1. Go to Screen 89, Global Intangible Low-Taxed Income (8992).
2. Click the blue Name ID and Number link in the left navigation menu.
3. Enter any applicable fields in the Person Filing Return and Shareholder Information section.
4. Select the applicable CFC from the left navigation menu.
5. Locate the Global Intangible Low-Taxed Income (8992) section.
6. Enter the Name of CFC.
   • This field is mandatory for e-file.
7. Enter the EIN if the CFC has one. Otherwise, leave this field blank and enter their Reference ID. Only enter one ID or the other.
8. Enter any other applicable fields in this section:
   • Tested income (in U.S. dollars)
   • Tested loss (in U.S. dollars)
   • Pro rata share of tested income
   • Pro rata share of tested loss
   • Pro rata share of qualified business asset investment (QBAI) (in U.S. dollars)
   • Pro rata share of tested loss QBAI amount
   • Pro rata share of tested interest income
   • Pro rata share of tested interest expense
   • 1=delete this year, 2=delete next year