Filing a corporate return in Massachusetts and it is generating a tax on tangible property (inventory). How do I exclude this inventory as it is held in another state?

KenKYCPA · ‎01-20-2022

The corporation operates in Massachusetts but holds its inventory in Pennsylvania.

Lacerte automatically assesses the tax.

What form do I use to allocate the inventory to other situs?

sjrcpa · ‎01-20-2022

In Lacerte, use the Apportionment Screen.

The more I know the more I don’t know.