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California Partnership Income Tax Summary to be expanded back to it's original function

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California Partnership Income Tax Summary to be expanded back to it's original function

Kathleen1

Quite a few years ago now in the Partnership program of Lacerte the California Income Tax Summary used to show Income, Deductions, Rental Real Estate Income, S179, charitable contributions, etc.  One year someone decided that only the trade income, expenses and ordinary income/loss needed to be shown on the CA tax summary.  When questioned Lacerte indicated the items are already shown on the Federal tax summary and therefore are redundant to show on the California tax summary.    That was never true, because RE Income(loss), S179 and charitable contributions could always be different.  But now that we have to calculate California capital on the California tax basis, the balance sheet numbers will also be different.  So now you have to search through the California return to confirm that other items (ie: RE Income(loss), S179, charitable contributions, etc and assets and liabilities for state purposes are correct. Since there are no control totals for California in the partnership program, it would be especially helpful if those numbers could at least be brought back to the California Tax summary for quick and easy verification that the returns is correct.

Status: New
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