NCred99
Level 1
 
0 Cheers
abctax55
Level 15

You enter the farm expenses on the farm input areas (Screen 11 in Lacerte, PTO's big sister).  You don't use the 1125-A input area.

HumanKind... Be Both
itonewbie
Level 15

If those are livestock or items for resale, wouldn't you report those on Sch F, on Line 1 for cash method taxpayers or Part III for accrual method taxpayers?

---------------------------------------------------------------------------------
Still an AllStar
itonewbie
Level 15

Anna, you beat me by a couple seconds... 🤣

---------------------------------------------------------------------------------
Still an AllStar
NCred99
Level 1

If I remove the inventory from 1125-A then I get critical diagnostics about inventory not tying to the balance sheet.  I can't efile with critical diagnostics.  Any suggestions?  FYI - the inventory is purchased livestock that will not be depreciated

0 Cheers
abctax55
Level 15

Jensen, well... you do live a long ways away 😂

HumanKind... Be Both
Emm1234
Level 3

Did you ever figure this out? I am having the same issue. This is my first year using Lacerte, and did not have this issue with my old program. 

0 Cheers
Emm1234
Level 3

Did you ever figure this out? I am having the same issue. This is my first year using Lacerte, and did not have this issue with my old program. 

0 Cheers