Streamlining Form 1099 Consolidated Data Entry in Lacerte

[Bendler]

Dear Lacerte Team,

We are writing to express our concern regarding the current process of entering data from Form 1099 Consolidated/Composite statements into Lacerte tax preparation software. The current system, which requires input under three separate modules (Interest, Dividends, and Dispositions), can be inefficient, time-consuming, prone to errors, and lead to missed data.

Given the complexity of Form 1099-CONS and its significance in both individual and business returns, we propose a dedicated section under the Income tab for 1099 Consolidated. This section would allow for the entry of all types of income, dividends, interest, capital gains/losses, and miscellaneous items reported on this form in corresponding subsections, all within a single screen per statement's issuer and account number.

We believe that this streamlined approach would significantly enhance the efficiency and accuracy of tax return preparation. Similar arrangements have proven effective in other tax preparation software, such as ProSystem fx (CCH).

As we look ahead to the upcoming 2024-2025 tax season, we are committed to providing the highest level of quality and efficiency to our clients. We believe that this proposed update would benefit a wide community of accounting firms and their clients.

We kindly request your feedback regarding the feasibility of incorporating this suggested update for the upcoming tax season and your estimated timeline for implementation.

Thank you for your prompt attention to this matter.

Sincerely,

Bendler & Co.