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Level 3
December 7, 2019
Solved

Partner notice of electing out of consolidated audit rules in Lacerte

  • December 7, 2019
  • 2 replies
  • 1 view

Does Lacerte have a box to mark that prints the partner notification regarding the partners electing out of the centralized partnership audit regime under Section 6221(b)?

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Best answer by abctax55

You need to develop your own wording (based on the IRS *suggestions*) and enter it globally so it prints as a note for each K-1.

2 replies

abctax55
abctax55Answer
Level 15
December 7, 2019

You need to develop your own wording (based on the IRS *suggestions*) and enter it globally so it prints as a note for each K-1.

HumanKind... Be Both
Level 3
December 7, 2019
how do you do that in Proseries?
Intuit Community Champion
December 7, 2019

As you probably know, there is no suggested method of notification.

Some could be notified as a footnote on the K-1, etc.

As a result, I doubt this is a priority for the programmers.

Level 3
December 7, 2019
Lacerte has added the statement. See checkbox on screen 5