I am writing to ask why Lacerte does not support Form 8978. To my understanding, there is not even a place to override the additional tax (if applicable) or any other related adjustment. For example, if the taxpayer owes additional tax because of a Form 8986 adjustment, the additional tax would be reported on Form 1040, Schedule 2, Line 17z. It would be nice to have the override option; that way, if Form 8978 remains unsupported by Lacerte, the form can at least be filled out and attached to the e-filed return. Right now, it is my understanding when Form 8978 is required, the taxpayer must paper-file their Federal return.
Form 8978 will be a form that will be required in tax year 2023 - one big reason is the ERC (Employee Retention Credit) and the need for S-Corp's and Partnerships to amend previous years returns and partner/shareholder K-1's.
I certainly hope Lacerte can support Form 8978 for the 2023 Federal Return - or at least provide input space in "Other Taxes" to override the additonal calculated tax or other adjustments related to Form 8978. Other major tax software support Form 8978. I hope Lacerte will too.
Thanks for the idea to support Form 8978. For the time being we are changing the status to "Open for voting" and will update this thread with any information.
Continue to vote and comment on enhancements by going to the Idea Exchange Home page and select "Status": Open for voting, "Sort by": Most Popular. >> Lacerte Idea Exchange
Thanks for the idea to support Form 8978. For the time being we are changing the status to "Open for voting" and will update this thread with any information.
Continue to vote and comment on enhancements by going to the Idea Exchange Home page and select "Status": Open for voting, "Sort by": Most Popular. >> Lacerte Idea Exchange
