Below are instructions for generating Form 8886, Reportable Transaction Disclosure Statement, in Lacerte. Choose the applicable module below for instructions.
Individual:
- Go to Screen 78, Tax Shelter Statement.
- Locate the Reportable Transactions (Both Pre-2003 & Post 2002) section.
- Mark the Transaction entered into after 12/31/02 checkbox.
- This will report the transaction on Form 8886.
- If you don't select the checkbox, the program assumes the taxpayer entered into the transaction prior to January 1, 2003 and reports it on the Tax Shelter Disclosure Statements.
Partnership
- Go to Screen 58, Tax Shelter Statement/Form 8886.
- Locate the Reportable Transactions (Both Pre-2003 & Post 2002) section.
- Mark the Transaction entered into after 12/31/02 checkbox.
- This will report the transaction on Form 8886.
- If you don't select the checkbox, the program assumes the taxpayer entered into the transaction prior to January 1, 2003 and reports it on the Tax Shelter Disclosure Statements.
Corporate
- Go to Screen 71, Tax Shelter Statement/Form 8886.
- Locate the Reportable Transactions (Both Pre-2003 & Post 2002) section.
- Mark the Transaction entered into after 12/31/02 checkbox.
- This will report the transaction on Form 8886.
- If you don't select the checkbox, the program assumes the taxpayer entered into the transaction prior to January 1, 2003 and reports it on the Tax Shelter Disclosure Statements.
S-Corporate
- Go to Screen 65, Tax Shelter Statement/Form 8886.
- Locate the Reportable Transactions (Both Pre-2003 & Post 2002) section.
- Mark the Transaction entered into after 12/31/02 checkbox.
- This will report the transaction on Form 8886.
- If you don't select the checkbox, the program assumes the taxpayer entered into the transaction prior to January 1, 2003 and reports it on the Tax Shelter Disclosure Statements.
Fiduciary
- Go to Screen 72, Tax Shelter Statement/Form 8886.
- Locate the Reportable Transactions (Both Pre-2003 & Post 2002) section.
- Mark the Transaction entered into after 12/31/02 checkbox.
- This will report the transaction on Form 8886.
- If you don't select the checkbox, the program assumes the taxpayer entered into the transaction prior to January 1, 2003 and reports it on the Tax Shelter Disclosure Statements.
Exempt Org.
- Go to Screen 82, Tax Shelter Statement (8886).
- Locate the Reportable Transactions (Both Pre-2003 & Post 2002) section.
- Mark the Transaction entered into after 12/31/02 checkbox.
- This will report the transaction on Form 8886.
- If you don't select the checkbox, the program assumes the taxpayer entered into the transaction prior to January 1, 2003 and reports it on the Tax Shelter Disclosure Statements.
