Lacerte Tax

Iowa starts with Federal taxable income which is already reduced by the education deduction. Then on schedule sch 1 as an adjustment to federal taxable income the education deduction  is taken again. What ever you put in for your federal deduction is doubled on Iowa up to the Iowa $500 limit.

Does anyone know if there's been a resolution to yesterday Lacerte alert regarding Error F1040-034-07, which IRS rejected the e-file because withholding didn't match up?

where on form 1120s can i report 1099 nec issued to an scorp. so its an scorp income

I'm trying to figure out if this is a Lacerte issue or something I'm missing. Client is filing the VA 502PTET form for the first time this year. Based on everything I can find, the amount calculated on page 2, section 1, line 1 in column A should be Federal taxable income x VA apportionment %. I have Sch K income of $1,280,626 ($1,290,613 ordinary income + $13,318 interest income - $23,305 179 deduction). My VA apportionment is 93.2914%. The amount I expect on the 502PTET as taxable income is $1,194,714. The amount Lacerte is calculating is $1,193,150. It's off enough that I don't feel like it's rounding.I'm guessing I'm missing something in the calc, but can't tell what based on the instructions. The PTE addback and depreciation decoupling come later on the form so I don't think they're having any impact on the difference. Anyone else run into this problem?

Can not find a resolutions while searching Lacerte.Have two clients who we received the following reject error code after attempting to eFile their Individual 2022 returnsLooked up on IRS website and it states that the withholding for Federal has to agree to the forms?  This is the case in both situations, no input errors:Note, The first is a small client with ONLY 1 1099R with with holdingsThe other has more complexity-- but ONLY 1 W-2 with with holdingsThese two clients are from different States-- so it does not appear to be a State issue..  Have checked everything Reject Error F1040-034-07

Does Lacerte have a place where is lists all the forms and their release dates?

Have a trust that was final in 2023 that made an allowable charity donation.  Being a final year it is a complex trust.  Obviously being a final year, all income is being distributed.  The Charity portion of the program has been filled out with the charity info and donation amount.The program is generating a 1041-A despite the exception for having to file a 1041-A if all income is being distributed.  When I change the designation to simple trust, the 1041-A goes away but there is a non-critical diagnostic that simple trusts cannot take a charitable deduction.  The donation amount is appearing on the K-1 of the beneficiaries.I have looked around to see if there is a box to check that says income must be distributed but cannot find such a box.What am I missing?  Thanks in advance all!

An asset has an undepreciated cost which should not have depreciation calculated since it was taken out of service.Is there a way to keep an asset (which is not fully depreciated) listed on the Depreciation schedule but indicate that it is out of service? I don't want to override depreciation every year.

@1569 GabiI get errors frequently. I use hosted. They can come when I click on a diagnostic and at other times, without order or a pattern.  I click Send Error Report and Do not send 3+ times before the notifications stop. Would you mind forwarding this to the right folks?  I don't know the best way to report these types of problems.Thank you.

Usually when a form isn't ready you get the blank page with the words "This form is not available for this release." There's also a diagnostic to go with it. When I put in the input for EV credits, Lacerte just goes crickets. The form shows up but it will not populate. There's no diagnostic to check. Is this a Lacerte bug or is the form not released yet?

Have some partners that are participating in the CA PTET and some are not.  I see all the required information on the CA K-1s.  My question is how to specially allocate it to the participating partner on the federal 1065 K-1 for the participating partners only.  When I go to screen 29, where the federal allocations are I don’t see a way to specifically target the PTET amount that is being credited on the CA K-1 to reduce the federal income on the K-1.  Instead of entering the PTET payment in screen 13 as part of the other state taxes paid does it need to be entered in 22.1 as ‘other deduction’ so I can point to it when going into the special allocation screen?

Taxpayer is active Military. Tax home is AZ, Taxpayer is exempt but spouses income is not how is that entered

i just want to confirm if i have a difference in beginning year cash to the actual amount on the books do i do an m1 adjustment line 2 or m2 adjustment?. 

Tax deal bill moves to Senate (02-01-24) On January 31, 2024, the U.S. House approved the Tax Relief for American Families and Workers Act of 2024 (H.R. 7024). As we previously reported, this bill would, among other things: Increase the Child Tax Credit; Retroactively reinstate current expensing for domestic qualified research expenses, 100% bonus depreciation, and the larger business interest expense deduction; and Significantly increase Employee Retention Credit (ERC) penalties and impose a January 31, 2024, cutoff date for new ERC claims.   According to news reports, to ensure passage of this bill in the House a deal was also reached to introduce another bill within the next week that would double the state and local tax deduction limit for married taxpayers filing jointly (increasing it to $20,000, from $10,000). We have yet to see the text of this bill, so we do not know whether this change will be retroactive. We will send another Flash E-mail once the text of this pr

Anybody else seeing this:I'm getting three critical diagnostics on all of my 1120-S returns that all relate to Form 8283.None of the returns have any input that would trigger a Form 8283.The diagnostic code is (#0)The returns can e-file without a problem, it's just one of those glitchy things.  And since I've had a few hiccups with my new copier/scanner/printer (aka Bubba) speaking with my computer, but working fine with the other workstations in my office, I'm a little paranoid.

where to report de minimis amount on 1065 partnership

Does anyone know if Lacerte is going to update the penalty calculations for California filers due to the 11/15/2023 due date for filing and payment?  Are we going to have to manually calculate or override to $0 and have the client get notices?

From the Comptroller's OfficeThe following is how each entity will report (or not report) beginning with the 2024 report:Taxable entities with annualized total revenue at or below the no tax due revenue threshold donot owe any tax and are not required to file a franchise tax report. They are, however, stillrequired to file a Public Information Report (PIR) or Ownership Information Report (OIR).

Tried amending a 2022 individual yesterday and getting the following reject error code. Reject: Error X0000-005: The XML data has failed schema validation. cvc-minInclusive-valid. Value '-1048' is not facet-valid with respect to minInclusive '0' for type 'USAmountNNType'. I have called Lacerte 3 times, they have reloaded 2022 program and had me resubmit return.  The fact that I have to call them 3 times and now take time to post this question is ridiculous, they should have a webpage which shows all reject errors they are currently working on so I don't have to waste time posting to see if anyone else is experiencing this.  

I want to keep an air gap between my client's data and the internet. In prior years I could use the cd to install the current year's program on a stand alone computer.  That option has been taken away from me.  For the first time in 30+ years I am forced to expose prior year client data to install the current year's program.  Nor, for 2023 tax year, is there an equivalent available to the CD, like "Download full cd image", as there was in prior years.the ostensible reason for for discontinuing the cd distribution was to cut down on the "environmental cost".  The environmental cost of having a program available to duplicate the function of the cd would be minimal. Client data security is a top priority.   If bad actors can gain access to data in multinational firms, how do I as a "one person shop" keep them away from my client's data?  The best answer is to maintain an air-gap so the data NEVER has the potential to be exposed in ANY WAY from

Taxpayer made 5 non-cash contributions.  Only 4 show on 8283, and there is no worksheet or statement listing the 5th one.  The total carrying to Schedule A is correct.  In the past, Lacerte had a supporting schedule/worksheet listing ALL non-cash contributions if there were more than could be shown on the 8283

Hi, all,What is the Preparer Review Copy used for? Is it different than the Preparer File Copy?Thanks, Michael

I have a client that has told me that he withdrew 44,000 from his Danish Pension.  From my quick google searches it appears that pensions from Denmark are exempt from U.S. tax pursuant to the U.S.-Denmark income tax treaty.  Has anybody had experience with this?Is a Form 8833 needed?  

The box for SE health insurance deduction override is not on screen 24. In Lacerte 2022, the box was at the bottom of the SE Health Insurance section of screen 24.Jump to input on Schedule 1 Line 17 has an option for SE health insurance override but it takes you to the top of screen 24. Does this require an update?Thanks!

Hi,   Proseries seems to be having issues finalizing 1040 forms for a number of states... i.e. NJ, MI, CT, and likely others....  forms promised for 1/31 haven't happened after 'we received our daily downloads'...  Are there any issues with Lacerte for these states?    Just curious if it's the states or Intuit?    .... the natives are getting restless