DSICPA
Level 2
 
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George4Tacks
Level 15

Before we go further - Can you verify that your client is an officer or employee of the federal government or judicial officer of the federal government? 

This is a pretty obscure section of the form, do you really need to go there?


Answers are easy. Questions are hard!
DSICPA
Level 2

My client was an executive with Goldman Sachs. He left them and went to work for the Securities and Exchange Commission. He received a Certificate of Divestiture from the  US Office of Government Ethics for 5 specific assets to which section 1043 apply for the nonrecognition of gain. 

0 Cheers
DSICPA
Level 2

My client was an executive with Goldman Sachs. He left them and went to work for the Securities and Exchange Commission. He received a Certificate of Divestiture from the  US Office of Government Ethics for 5 specific assets to which section 1043 apply for the nonrecognition of gain. 

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George4Tacks
Level 15

Maybe @sjrcpa or @PhoebeRoberts or @abctax55 have an idea of how to do. I don't see the solution.

 


Answers are easy. Questions are hard!
PhoebeRoberts
Level 11
Level 11

Looks like that whole section of the 8824 is unsupported by Lacerte. I think you're going to have to manually complete it and either attach as PDF, attach to an 8453, or file the whole return on paper.

View solution in original post

DSICPA
Level 2

Thank you all for the replies. That is the conclusion that I came to as well that Lacerte does not support that section of the 8824. I will manually complete that section and take care of it that way.  

sjrcpa
Level 15

I agree with Phoebe, of course.


The more I know the more I don’t know.
abctax55
Level 15

Surprise... I agree (don't we all, always?) agree with Phoebe.

Plus this is something I've never, ever had to deal with in my practice 😂

HumanKind... Be Both