Fiduciary - Basis Limitation

[TaxGirl3]

Trust receives a K-1 reporting a loss that should be limited by the basis limitation (K-1 from an 1120S to an ESBT).  Is there a way to track that in Lacerte?  Or do I rely on Excel and only input in Lacerte amounts that are not limited by basis?

Thank you!

[sjrcpa · Accepted solution]

"rely on Excel and only input in Lacerte amounts that are not limited by basis"

[TaxGirl3]

I answered my own question, but now I know I answered it correctly.  Thank you! 😀

[sjrcpa]

You're welcome.