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Entering tax-exempt interest on Form 1065 in Lacerte

SOLVEDby IntuitLacerte Tax20Updated July 14, 2022

Follow these steps to enter tax-exempt in the Partnership module:

  1. Go to Screen 27, Schedule M-1, M-3 (Book-Tax Adj.).
  2. In the Section list, select Income Recorded on Books not Included on Schedule K.
  3. Enter any applicable amount(s) in the appropriate field(s).
  4. Go to the Forms tab.
  5. Make sure the amounts on the Schedule M-1, Schedule M-3 and the Schedule K/K-1 (line 18) are correct.

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