Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Lacerte Tax
- :
- Lacerte Tax Discussions
- :
- NY IT-201 line 20
NY IT-201 line 20
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
mary s
Level 1
Sunday
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I have a client with a 1099-INT with box 8 tax-exempt interest and box 13 bond premium on tax-exempt bond. When I entered this in Lacerte, it handled the federal correctly (reduced the tax-exempt interest by the amount in box 13) but it added back all of the box 13 amount on line 20 of the IT-201 even though it's all NYS tax-exempt interest and bond premium.
If I enter the box 13 amount as "Non New York amortizable bond premium on tax-exempt bonds {NY}" instead of as "Amortizable bond premium on tax-exempt bonds", then the NY return is correct but the federal tax-exempt interest amount is overstated by the bond premium.
I can't seem to get both the federal and the NYS return correct.
In prior years, this did not happen in Lacerte.
Is this a Lacerte issue or am I missing something?
Labels
