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We're required to put a Country code in the K-2 and for RICs, the IRS says to use OC for Other Country. Lacerte has no option for OC, Other Country, Various, RIC or anything. I just so happened to try to type OC in the field then hit escape because there was no result and magically the field filled in with OC. I put in a request that they fix this glitch, but hopefully it will help some of you poor souls out there.
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Thank you! This was driving me crazy!
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Why has Lacerte not posted about this? Thanks so much for sharing!
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Thank you! I can't understand why Lacerte hasn't put something out about this. Really appreciate you figuring this out!
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There is also no OC option when entering K3 (Line 16 A Foreign Income drop down) in ProSeries Professional. It would be helpful to those entering K1s and K3s on Individual returns to have OC as an option. Also better instructions if there is foreign income from more than one country.
