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Generating Form 5884, Work Opportunity Credit in Lacerte

by Lacerte Tax 2023 Updated 2 months ago

Select your module below to learn how to generate Form 5884 in the program:

Individual

Follow these steps to generate Form 5884 for a sole proprietorship (Schedule C):

  1. Go to Screen 34, General Business & Vehicle Credits.
  2. From the Sections list, select Credits.
  3. Select the Form (Ctrl+T) dropdown menu and choose Schedule C.
  4. Select the activity from Activity name or number (Ctrl+T)
  5. From the Sections list, select Work Opportunity Credit (5884).
  6. Under the Qualified Wages Paid subsection, enter the 25% (line 1a) (qualified first-year wages of employees who worked at least 120 hours but fewer than 400 hours for you).
  7. Enter the 40% (line 1b) (qualified first-year wages of employees who worked at least 400 hours for you).
  8. Enter the 50% (line 1c) (qualified second-year wages of employees certified as long-term family assistance recipients).

Follow these steps to generate Form 5884 in the individual module for a passthrough partnership:

  1. Go to Screen 20.1, Partnership Information.
  2. From the Sections list, select Line 15 - Credits and Withholding.
  3. In the K-1 code dropdown menu, select J = Work opportunity credit
  4. Enter the Amount of Credit.

Follow these steps to generate Form 5884 in the individual module for a Passthrough S Corporation:

  1. Go to Screen 20.2 - S Corporation Information.
  2. From the Sections list, select Line 13- Credits and Withholding.
  3. In the Code dropdown menu, select J = Work opportunity credit.
  4. Enter the Amount of Credit.

Follow these steps to generate Form 5884 in the individual module for a Passthrough Estate and Trusts:

  1. Go to Screen 20.2 - Estate and Trust Information.
  2. From the Sections list, select Line 13- Credits.
  3. In the Code dropdown menu, select F = Work opportunity credit.
  4. Enter the Amount of Credit.
  1. Go to Screen 20, Credits.
  2. Select Other Credits from the left navigation panel.
  3. Scroll down to the Work Opportunity Credit (5884) section.
  4. Under the Qualified Wages Paid subsection, enter the 25% (line 1a) (qualified first-year wages of employees who worked for you at least 120 hours but fewer than 400 hours).
  5. Enter the 40% (line 1b) (qualified first-year wages of employees who worked for you at least 400 hours).
  6. Enter the  50% (line 1c) (qualified second-year wages of employees certified as long-term family assistance recipients).
  7. Enter any remaining applicable fields.
  1. Go to Screen 26, Credits.
  2. Select Schedule K Credits from the left navigation panel.
  3. Scroll down to the Work Opportunity Credit (5884) section.
  4. Under the Qualified Wages Paid subsection, enter the 25% (line 1a) (qualified first-year wages of employees who worked at least 120 hours but fewer than 400 hours for you).
  5. Enter the 40% (line 1b) (qualified first-year wages of employees who worked at least 400 hours for you).
  6. Enter the 50% (line 1c) (qualified second-year wages of employees certified as long-term family assistance recipients).
  7. Enter any remaining applicable fields.
  1. Go to Screen 28, General Business Credits (3800).
  2. Select Work Opportunity Credit (5884) from the left navigation panel.
  3. Under the Qualified Wages Paid subsection, enter the 25% (line 1a) (qualified first-year wages of employees who worked at least 120 hours but fewer than 400 hours for you).
  4. Enter the 40% (line 1b) (qualified first-year wages of employees who worked for you at least 400 hours).
  5. Enter the 50% (line 1c) (qualified second-year wages of employees certified as long-term family assistance recipients).
  6. Enter any remaining applicable fields.
Lacerte Tax

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