Common questions about Corporate Controlled Group (Schedule O) in Lacerte

1. Go to Screen 9, Controlled Groups (Schedule O).
2. Click the Group Information button or link from the top left navigation panel (if not already there).
3. Check the box, Carry apportionable amounts to tax return to carry the allocation of tax for this corporation to the Form 1120, Schedule J.
4. Enter the Taxable income of the entire group. (2017 and prior only)
5. Scroll down to the Apportionment Plan Information - Schedule O section.
6. Select the Type of controlled group (Ctrl+T) from the drop down menu.
7. Complete all other applicable information for this group.
8. Click on the Group Members button or link from the top left navigation panel.
9. Complete the General Information section.
   Note: The first member entered should be the same information entered on Screen 1, Client Information for this client file.
   1. Enter the Name of the first member.
   2. Enter the ID number of the first member.
   3. Enter the Taxable year ended of the first member.
10. Locate the Apportionment Amounts section.
11. Complete the Share of subsections as applicable for this member.
12. Click Add on the left in the member list to add a new member
13. Repeat Steps 9-12 as needed to add all members.

The program carries apportionable amounts to the member whose entry in ID Number matches the entry in Federal ID Number in the Client Information screen..

1. Open Screen 9, Controlled Group Apportionment.
2. In the Members list, click the Add button.
3. Enter information in the General Information and Apportionment Amounts sections.
4. Repeat steps 2 and 3 for each member