ProConnect HelpIntuit HelpIntuit

Generating a Personal Service Corporation Schedule H in Lacerte

SOLVEDby IntuitUpdated December 21, 2023

How to mark an 1120 as a personal service corporation:

  1. Go to Screen 4.1, Miscellaneous Information.
  2. Locate the Miscellaneous section.
  3. Check one of the following boxes:
    • Qualified personal service corporation - Check this box if this is a qualified personal service corporation. If you check this box, Lacerte checks the applicable box at the top of Form 1120 and applies the 35% flat tax rate to the corporation. The program completes Form 8810 if the corporation is involved in any passive activities.
    • Nonqualified personal service corporation - Check this box if this corporation is a personal service corporation that does not meet the tests for a qualified personal service corporation. If you check this box, Lacerte checks the applicable box at the top of Form 1120 but does not apply the 35% flat tax rate for the corporation. The program completes Form 8810 if the corporation is involved in any passive activities.

How to generate Schedule H

  1. Go to Screen 27, Schedule H - Sec 280H Limitations (PSCs)
  2. Complete any applicable information.

Was this helpful?

You must sign in to vote, reply, or post
Lacerte Tax

Sign in for the best experience

Ask questions, get answers, and join our large community of Intuit Accountants users.

More like this

Dynamic AdsDynamic Ads