On K-1 Line 17 d, Other tax preference items excess IDC

[Dorothy-L-Lewis]

where do I input info

[PhoebeRoberts · Accepted solution]

In the Oil & Gas section of the K-1 input. You should have a diagnostic that says, "you entered IDC but not the excess IDC amount. Go enter the excess amount."

[PhoebeRoberts]

Once you've entered it, there's a calculation on the O&G worksheets that shows whether and how much of the excess IDC is an AMT adjustment. Lacerte's calculation of the AMT adjustment is reliable.

[abctax55]

Input into which module?

[emcneill]

Can you tell me how to input code 17D,E, & F from a K-1 to the fiduciary module?

[PhoebeRoberts]

Screen 25, Oil & Gas section.
D is Gross Income Oil & Gas (20T)
E is Gross Deductions Oil & Gas (20T)
F could be a bunch of stuff; what's the K-1 detail say? If excess IDCs, you enter it on the line called excess IDCs.

[emcneill]

It is excess IDC.

[PhoebeRoberts]

Then you put it on the third line in that tax preference section, the one called excess IDCs.