Skip to main content
Level 2
December 7, 2019
Solved

Should I pdf and attach a grey'd-out Form 8991 with "NO" checked on line 1g (under $500M), given instructions and Form say if "No," then attach 8991 to the tax return?

  • December 7, 2019
  • 1 reply
  • 9 views

Lacerte says: Lacerte will flow information to all forms that it believes may be necessary for the return. If Form 8991 is not bolded, then this means that Lacerte does not believe it should be included, however it is up to you as the tax preparer to determine that the return is correct. If you are unsure, I would post a question in the Accountants Community for guidance on this form. 

This topic has been closed for replies.
Best answer by George4Tacks

If you are unsure, then you should read the instructions https://www.irs.gov/pub/irs-pdf/i8991.pdf

In particular, page 2 Who Must File. If the answer is NO, then you do not need to file. DO BE SURE TO CHECK THE INPUT for screen 32 (C Corp) to verify that the 3-Year Average Gross Receipts are correct for the 3 preceding years. 

1 reply

George4Tacks
Level 15
December 7, 2019

If you are unsure, then you should read the instructions https://www.irs.gov/pub/irs-pdf/i8991.pdf

In particular, page 2 Who Must File. If the answer is NO, then you do not need to file. DO BE SURE TO CHECK THE INPUT for screen 32 (C Corp) to verify that the 3-Year Average Gross Receipts are correct for the 3 preceding years. 

Answers are easy. Questions are hard!