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Generating Form 5471 Category 3 filer statement of indebtedness in Lacerte
by Intuit• Updated 3 months ago
Follow these steps to generate the statement of indebtedness with a foreign corporation:
- Go to the Information Return of U.S. Filer screen:
- Screen 68 (Individual)
- Screen 48 (Partnership)
- Screen 63 (Corporate)
- Screen 56 (S Corporate)
- Screen 80 (Exempt Organization)
- Screen 66 (Fiduciary)
- Locate the Filers Information section.
- Hold down Ctrl+E in, Category 3 filers - additional filing requirements (Ctrl+E).
- Enter the required information:
- Type of Indebtedness
- Amount of Indebtedness
- Name of Subscriber
- Address of Subscriber
- City
- State
- Zip Code
- ID Number
- Number of Shares
- Click OK.
Note: To generate a statement for filing purposes only (substantiation only), Enter a -1 in Amount of Debt and an entry in name of subscriber, this will generate a statement with basic information
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