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How to generate Form 8916-A - Supplemental attachment to Schedule M-3 in Lacerte

by Intuit Updated 1 year ago

Form 8916-A, Supplemental Attachment to Schedule M-3, is required when cost of goods sold, interest income and/or interest expense is included on the return.

Follow these steps to manually enter input for Form 8916-A:

Corporation

  1. Go to Screen 39, Schedule M-1, M-3.
  2. Select Supplemental Attachment to Schedule M-3 from the left menu.
  3. Make applicable entries in Part I - Cost of Goods Sold.
  4. Make applicable entries in Part II- Interest Income.
  5. Make applicable entries in Part III- Interest Expense.

S Corporation

  1. Go to Screen 31, Schedule M-1, M-3.
  2. Select Supplemental Attachment to Schedule M-3 from the left menu.
  3. Make applicable entries in Part I - Cost of Goods Sold.
  4. Make applicable entries in Part II- Interest Income.
  5. Make applicable entries in Part III- Interest Expense.

Partnership

  1. Go to Screen 27, Schedule M-1, M-3 (Book-Tax Adj.)
  2. Select Supplement to Schedule M-3 from the left menu.
  3. Make applicable entries in Part I - Cost of Goods Sold.
  4. Make applicable entries in Part II- Interest Income.
  5. Make applicable entries in Part III- Interest Expense.

Follow the same guidelines for the M-3 when making input for Form 8916-A.

  • Only columns (b) and (c) should be completed for the first year a corporation is required to file Schedule M-3. 
    • Columns (a) and (d) can be forced to complete by checking the box Complete columns (a) and (d) of Parts II and III within the M-3 input.
  • When entering amounts for columns (b) and (c), enter as a positive amount, any item for which the tax return amount is greater than the income statement amount. Enter as a negative amount, any item for which the tax return amount is less than the income statement amount.
  • For consolidated returns, use the 8916-A input screen of the consolidator to enter any eliminations or adjustments needed to arrive at consolidated income.

Related links:

Lacerte Tax

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