Jacob
Level 1
12-07-2019
07:37 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
My client with 2 children has royalty($3,500) and rental income($3,000) from Trust K-1 and Wage ($15,000) I think she is not qualified for EIC because of investment income limit($3,500) for EIC. But Lacerte makes EIC for her. I checked the EIC work sheet doesn't count royalty income as investment income.
In K-1, Royalty income is in line 5 as other portfolio and nonbusiness income
As a result, please let me know how to input royalty income from K-1 to lacerte program as royalty income correctly. She is not qualified for EIC.......
Thank you for your help in advance
Best Answer Click here
Labels