Form 8978

[ak12cpa]

I am writing to ask why Lacerte does not support Form 8978. To my understanding, there is not even a place to override the additional tax (if applicable) or any other related adjustment. For example, if the taxpayer owes additional tax because of a Form 8986 adjustment, the additional tax would be reported on Form 1040, Schedule 2, Line 17z. It would be nice to have the override option; that way, if Form 8978 remains unsupported by Lacerte, the form can at least be filled out and attached to the e-filed return. Right now, it is my understanding when Form 8978 is required, the taxpayer must paper-file their Federal return.

Form 8978 will be a form that will be required in tax year 2023 - one big reason is the ERC (Employee Retention Credit) and the need for S-Corp's and Partnerships to amend previous years returns and partner/shareholder K-1's. 

I certainly hope Lacerte can support Form 8978 for the 2023 Federal Return - or at least provide input space in "Other Taxes"  to override the additonal calculated tax or other adjustments related to Form 8978. Other major tax software support Form 8978.  I hope Lacerte will too.

Thank you!

[Anonymous]

Thanks for the idea to support Form 8978. For the time being we are changing the status to "Open for voting" and will update this thread with any information. 

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