jeromeburnett
Level 3
12-06-2019
09:15 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Does Lacerte have a box to mark that prints the partner notification regarding the partners electing out of the centralized partnership audit regime under Section 6221(b)?
Best Answer Click here
Labels
abctax55
Level 15
12-06-2019
09:15 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
You need to develop your own wording (based on the IRS *suggestions*) and enter it globally so it prints as a note for each K-1.
HumanKind... Be Both
Renata511
Level 1
12-06-2019
09:15 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
how do you do that in Proseries?
jeromeburnett
Level 3
12-06-2019
09:15 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Lacerte added a box to elect out and include the wording automatically in the "Partner Misc" section. Might look for the equivalent in Proseries
jeromeburnett
Level 3
12-06-2019
09:15 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Actually as I look closer the actual box for all partners to elect out is in Other information (Schedule B)
Renata511
Level 1
12-06-2019
09:15 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Yes question #25 in schedule B other information prints schedule B-2 fine, but that doesn't appear anywhere on the partner's K-1. I have to manually add additional information to every K-1 to notify the partners of the election made . . . a REAL pain with larger partnerships
goshen9882
Level 3
12-06-2019
09:15 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
As you probably know, there is no suggested method of notification.
Some could be notified as a footnote on the K-1, etc.
As a result, I doubt this is a priority for the programmers.
jrescpa1
Level 2
12-06-2019
09:15 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Lacerte has added the statement. See checkbox on screen 5
Renata511
Level 1
12-06-2019
09:15 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Can't see your screens. Also I'm using ProSeries
abctax55
Level 15
12-06-2019
09:16 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Then you should consider posting on a PS thread as this is a Lacerte one.
HumanKind... Be Both