At this time, Lacerte suggests for us, in order to include the PTE federal deduction in the RE income, to compute manually the RE income allocated to each investors and override through Special Allocations.
This implies a lot of manual work and I suggest enhance by making that deduction (PTE tax) allocable specifically to some partners AND included in the RE income. At this time specifically allocated deductions are not included in RE income - that is the issue.
Thank you.
Thanks for the idea to include allocated deductions in RE income. We are changing the status to "Open for voting".
Continue to vote and comment on enhancements by going to the Idea Exchange Home page and select "Status": Open for voting, "Sort by": Most Popular. >> Lacerte Idea Exchange
If you have any questions on the life cycle of an idea, check out our Idea Exchange Getting Started Guide for more information.
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.