I am hoping someone can help.. 

I have an S-corp client that donated 3 parcels of land to a 501 (c) (3 ) organization .  I am not sure exactly how to do this in Lacerte.   3 shareholders, 3 parcels of land .    My example below is using the numbers from one of the pieces of land.   

I have read that the charitable contribution will flow thru on the K-1 as a separately stated deduction.  There is a basis limitation, rest will carryover.   

The land has been appraised at about $169, 000 each.    The basis of the land on the books is approximately $80,000.00 each.   (Using just one piece for an example. )    $80,000 will pass thru to the shareholder on the K-1 as a donation, but limited by basis, rest will carryover for future years.    

The appreciation in the property , $89,000.00  (169,000 - $80,000) will pass through to the shareholders and will be available to be claimed on the personal return.    The appreciation of the contributed property does not reduce basis.  

I hope what I am saying is correct so far.  

If it is, I am unsure how to enter this correctly into Lacerte.    I need to get the land off the books.  It is not on the depreciation schedule, it is in inventory.  The S-Corp is a builder and the Land & improvements are in inventory until a house sells.   In this case no house , no sale.  

Is the $89,000 the separately stated deduction?  Does this go on screen 25?     If so, how do I show the portion of the donation that is in inventory?   Is screen 20 where I put the basis part of the donation?    

I am really hoping someone can help.      Many Many thanks ...