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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- Form 5227 Page 2 Part III
Form 5227 Page 2 Part III
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mgdtax
Level 3
08-31-2022
06:53 PM
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How do I get information onto line 7 of part III on page 2 of Form 5227? I don't see any input for this line.
Thank you
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3 Comments 3
George4Tacks
Level 15
09-01-2022
10:24 AM
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Possibly the answer is in this help article.
Answers are easy. Questions are hard!
Intuit_Al
Community Manager
09-01-2022
11:14 AM
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Hello @mgdtax , the input can be found in Screen 29.1, Charitable Payee. In addition to the Charitable Payee Information, enter the amount in Distributed in current year from prior year's income (1041-A, line 17 or 5227, part III, line 7) . This should generate the amount on line 7 and a corresponding statement.
Thank you!
mgdtax
Level 3
09-01-2022
01:22 PM
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Thank you @Intuit_Al !
I found the screen 29.1 input, but it still wasn't working until.... I randomly changed the type of return on Screen 1 from Grantor Trust to Charitable Trust/Charitable Lead Trust. The reason I had it set to Grantor Trust is the attorney who set it up told me it's a grantor trust. All other fields on the 5227 were showing up with either Grantor or Charitable trust settings. Very interesting, I wonder if that's something that needs to be changed by the Lacerte programmers.
Thank you!
