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How to resolve Lacerte diagnostic ref. 2551 - This is a final return with either short-term or long-term capital

by Intuit Updated 1 year ago

When preparing the final return for a Fiduciary, you may encounter the following diagnostic:

  • This is a final return with either short-term or long-term capital loss carryover that has not been allocated to any remainderman. To properly distribute these items, make entries in 'Short-Term' or 'Long-term' columns for 'Other (Schedule B, Line 10)' on screen 7.1 Distribution Percentages. (ref. #25551)

To resolve this diagnostic:

  1. Go to Screen 7, 1041 Distributions.
  2. Click on Dollar Distributions on the left navigation panel.
  3. Remove all Amounts from this screen if applicable.
  4. Click on Distribution Percentages on the left navigation panel.
  5. Remove all percentages from the Required (Schedule B, line 9) subsection if applicable
  6. Enter all percentages in the Other (Schedule B, line 10) subsection.
    • Final Fiduciary returns always use the Other (Schedule B, line 10) subsection.
Lacerte Tax 2023

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