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Level 1
January 20, 2022
Solved

Filing a corporate return in Massachusetts and it is generating a tax on tangible property (inventory). How do I exclude this inventory as it is held in another state?

  • January 20, 2022
  • 1 reply
  • 14 views

The corporation operates in Massachusetts but holds its inventory in Pennsylvania.

Lacerte automatically assesses the tax.

What form do I use to allocate the inventory to other situs?

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Best answer by sjrcpa

In Lacerte, use the Apportionment Screen.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
January 20, 2022

In Lacerte, use the Apportionment Screen.

The more I know the more I don’t know.