Schedule K-2 & K-3 - Special Allocations

[kgreen8393]

For 2021, Schedules K-2 and K-3 are required in many cases.  The software needs to allow special allocations by partner for each item on the Schedule K-2.  Income categories can be allocated differently and are specially allocated when preparing Schedule K-1.  If a special allocation is not allowed for Schedule K-2/K-3 by line number, the information will never agree to the Schedule K-1 information.  This needs to be added ASAP!

[Sue2]

Amen!

[SRC]

Agreed.  The override process is extremely inefficient and tedious.  It should allow Allocation Groups, etc. similar to the Screen 29 Special Allocations.  At a bare minimum, all partners should be pre-populated in the override pop-up screen. It is much easier to skip over a partner, even if you are only overriding 2 partners, than to manually input every partner for every single category (not to mention they are referenced via #, not name, so it is a nightmare to cross-reference).

These inputs should also allow for cut/paste out of an excel source file.  It isn't necessarily the forms that are that bad, it is the manual inputting of the information that makes them horrible.

[pnichola]

PARTNERSHIPS:  Lacerte programmers, YOU ARE NOT LISTENING.  We need the ability to specially allocate every item on the K-3.  We have many clients who have different percentage values for each of the following:  Income, Average Value of Assets, Interest Expense and Depreciation Expense.  The override you offer does not allow for all the different percentages.   At this time, the only solution is to print the report to a PDF and then type in the correct values.  

I wrote to you last year asking for the ability to do the above.  YOU DID NOT LISTEN.

Patricia Nicholas