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Generating Form 7207 in Lacerte
by Intuit• Updated 2 months ago
Starting in tax year 2023, you can generate Form 7207 in Lacerte. This Form is for the Advanced Manufacturing Production Credit. To review the IRS instructions, see here. To see how to generate the form in Lacerte, select your tax module:
Generating the 7207 in the Partnership module:
- Go to Screen 20 Sch. K Credits.
- Select Advanced Manufacturing Production Credit (7207).
- Complete Part 1 Facility Information for each facility.
- From the Sections select the Part that's applicable for this client.
- Complete any applicable information.
Generating the 7207 in the Corporate module:
- Go to Screen 28 General Business Credits.
- Select Advanced Manufacturing Production Credit (7207).
- Complete Part 1 Facility Information for each facility.
- From the Sections select the Part that's applicable for this client.
- Complete any applicable information.
Generating the 7207 in the S-corporate module:
- Go to Screen 26 Sch. K Credits.
- Select Advanced Manufacturing Production Credit (7207).
- Complete Part 1 Facility Information for each facility.
- From the Sections select the Part that's applicable for this client.
- Complete any applicable information.
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