How to indicate in Lacerte that 2 or more rental properties are being treated as a rental enterprise.

Forum|Forum|6 years ago
December 7, 2019
1 reply
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Client has 2 residential rental properties - if combined and treated as a real estate enterprise, then safe harbor requirement of 250 hours applies to them as a unit. Lacerte is printing a safe harbor statement for each of them implying a total of 500 hours.

Lacerte Tax

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Best answer by itonewbie

The stock statements printed from Lacerte/PTO treat each property as a separate enterprise. If you are aggregating 2 or more properties as one rental enterprise, you may like to edit Intuit's or prepare your own statement to list all of those on one single statement.

This has been raised with Intuit but it does't seem like there'll be any change at this point in time.

itonewbieAnswer

Level 15

The stock statements printed from Lacerte/PTO treat each property as a separate enterprise. If you are aggregating 2 or more properties as one rental enterprise, you may like to edit Intuit's or prepare your own statement to list all of those on one single statement.

This has been raised with Intuit but it does't seem like there'll be any change at this point in time.

---------------------------------------------------------------------------------Still an AllStar

V

Vicster123

Level 2

How does one edit the statement?

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