How to enter partner allocation percentages in Lacerte

To enter partner's percentages:

1. Go to Screen 7, Partner Information.
2. Enter the applicable partner information.
3. Go to Screen 8, Partner Percentages.
4. Enter each partner's percentage of Profit Sharing, Loss Sharing, and Ownership of Capital under the beginning and ending columns.
   • Enter amounts in whole numbers (xx.xxxxxx) format. For example, 60.125% is entered as 60.125.

To override partner's percentages on the K-1's:

1. Go to Screen 32.1, Schedule K-1 Miscellaneous (Partner Miscellaneous Info).
2. Select Partner in a Partnership from the left Partner menu.
3. Scroll down and locate the Schedule K-1 allocation percentage (xx.xxxxx) [O] field (it's located above the K-1 Statement Allocation Percentage subsection).
4. Enter the amount in (xx.xxxxxx) format.
   • If you use this field for one partner, it must be used for all partners. You must enter -1 for partners receiving no distributions.
5. Repeat steps for each partner.