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How to generate Form 8611 in Lacerte

by Intuit Updated 3 months ago

This article will assist you with generating Form 8611, Recapture of Low Income Housing Credit, in the Corporate and Individual modules of Lacerte.

To generate Form 8611 in the Corporate module:

  1. Go to Screen 28, General Business Credits.
  2. Select LIH Annual Stmt. (8609-A) / Recapture (8611) from the top left navigation menu.
  3. Enter the Kind of building.
  4. Enter Address of Building, Street, City, State, and ZIP Code. 
  5. Enter Building identification number.
    • This must be 9 letters or numbers.
  6. Enter the Date placed in service.
  7. Enter any other applicable information in this section.
  8. Scroll down to the Recapture of Low Income Housing Credit (8611) section.
  9. Enter the dollar amounts in any of the applicable fields: 
    • Credits reported in prior years
    • Credits attributable to additions to qualified basis
    • Recaptures from prior years
    • Recapture amount from flow-through entity

If Form 8611 still isn't generating: 

  1. Go to Screen Screen 3.3, Consolidated Miscellaneous.
  2. Select Corporations included in Consolidated Return from the left Section list.
  3. Make the checkbox labeled Compute to taxable income only

To generate Form 8611 in the Individual module:

  1. Go to Screen 34, General Business and Vehicle Credits.
  2. Click Add from the left navigation panel.
  3. Locate the Credits section.
  4. Click on the Form (Ctrl+T) drop down menu.
  5. Select the applicable form that the credit applies to.
  6. Click on the Activity name or number (Ctrl+T) drop down menu.
  7. Select the applicable activity.
  8. Scroll down to the Recapture of Low-Income Housing Credit (8611) section.
  9. Enter the applicable information.
Lacerte Tax

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