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You enter the farm expenses on the farm input areas (Screen 11 in Lacerte, PTO's big sister). You don't use the 1125-A input area.
If those are livestock or items for resale, wouldn't you report those on Sch F, on Line 1 for cash method taxpayers or Part III for accrual method taxpayers?
Anna, you beat me by a couple seconds... 🤣
If I remove the inventory from 1125-A then I get critical diagnostics about inventory not tying to the balance sheet. I can't efile with critical diagnostics. Any suggestions? FYI - the inventory is purchased livestock that will not be depreciated
Jensen, well... you do live a long ways away 😂
Did you ever figure this out? I am having the same issue. This is my first year using Lacerte, and did not have this issue with my old program.
Did you ever figure this out? I am having the same issue. This is my first year using Lacerte, and did not have this issue with my old program.
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