How do you exclude rental income from K-1? It properly excludes from sch K when I check the box on screen 22 but carries to the K-1.

Forum|Forum|6 years ago
December 7, 2019
3 replies
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Lacerte Tax

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Best answer by IntuitAlicia

I've looked further and found that this was reported to our developers on the 18th. If you would like to be notified when issue INV-24963 has been addressed, you can contact support and make this request. Otherwise, our next program update is scheduled for release tomorrow afternoon.

Lacerte Release Schedule: https://accountants-community.intuit.com/articles/1738593&src=lsccom

You can also receive an email notification each time a program update goes live, by 'following' the ProConnect Lacerte Notifications - Lacerte Tax Program Updates for 2018 & Prior Years: https://accountants-community.intuit.com/announcements/1635976&src=lsccom

George4Tacks

Level 15

@IntuitAlicia Could you look into this? Additionally, when I go to special allocations for Other Sch K-1 line 20, QBI I do see that the amount has excluded the rents and the proper amount is there for me to manually split it up. But line 20 code Z is unchanged.

Answers are easy. Questions are hard!

IntuitAlicia

Employee

https://accountants-community.intuit.com/questions/1794352-has-anyone-figured-out-how-not-to-include-a-rental-activity-for-sec-199a-purposes-on-a-1065-k-1-i-cannot-find-any-boxes-on-the-8825-section-to-indicate-199a-status?jump_to=comment_3735749

IntuitAlicia

Answer

Employee

I've looked further and found that this was reported to our developers on the 18th. If you would like to be notified when issue INV-24963 has been addressed, you can contact support and make this request. Otherwise, our next program update is scheduled for release tomorrow afternoon.

Lacerte Release Schedule: https://accountants-community.intuit.com/articles/1738593&src=lsccom

You can also receive an email notification each time a program update goes live, by 'following' the ProConnect Lacerte Notifications - Lacerte Tax Program Updates for 2018 & Prior Years: https://accountants-community.intuit.com/announcements/1635976&src=lsccom

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