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Do I also need to complete the Federal and State Control Totals on Screen 49?
I am setting up a new client in 2020 individual Lacerte and working off the 2019 general information statement and have minimum tax credit carryover and taxable state and local refund carryover - how are these entered into the 2020 individual return? (SOLVED)
I have entered the state refund and completed the worksheet but not showing up as taxable. T/P itemized in 2019 and max'd out $10,000 in taxes. (SOLVED)
TIA
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Control Totals are optional.
You need last year's tax return including the 8801 and 6251 in order to be able to enter the minimum tax credit carryover.
The more I know the more I don’t know.
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As always, thank you SJRCPA. I do have the 2019 tax return and verifying the carryovers on General Info from the forms. I was able to right click and get back to input for the min tax and state tax.
thank you for the control totals response
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Sometimes this even helps to point out errors in the previously filed return and I am ready to do the amended, if needed.
Answers are easy. Questions are hard!
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Thank you both for your responses. I don't usually setup the prior year. Maybe I should start...
