This article will assist you with entering Illinois partner share of IL additions/subtractions in the Individual module of Lacerte.
Unlike entries in sections marked (EF Only), your additions and subtractions will flow to the tax return as well as the electronic copy of the IL K-1-P. You don’t need to re-enter them anywhere else in the return.
Follow these steps to enter the partner share of IL additions/subtractions in the program:
- Open the client return.
- Go to Screen 20, Passthrough K-1's.
- From the left navigation menu, select Partnership Information.
- Scroll down to the Illinois Partner Share of IL Additions/Subtractions (IL) section.
- You may also use the left Sections list to navigation to this section.
- Enter the amounts for Schedule K-1-P in the applicable fields.
- Enter the amounts for Schedule M in the applicable fields.