Limitations of Lacerte Tax Planner

Below you'll find a complete list of limitations in Lacerte Tax Planner.

Tax Planner doesn't support:

• Like-kind exchanges.
• Schedule E (Vacation Homes).
• Form 2106.
  • Amounts calculated by the program are exported to the correct form.
• Form 2555.
• Form 1116, Foreign Tax Credit.
  • You can export Form 1116 from the program.
• Form 1040-NR - Nonresident Alien.
• Depreciation.
  • You can import expenses except section 179 in K-1 Passthrough Screens.
• Form 8582-CR credits.
• Form 3800.
  • Business Credits flow through as Other Credits.
• Oil and Gas.
  • You can import oil and gas expenses not tied to a Schedule K-1.
• Multi-state, part-year, or nonresident calculations.

Tax Planner also doesn't:

• Print estimate vouchers.
• Import most overrides or adjustments from other tax programs.
  • Schedule D overrides are imported.
• Handle state and local tax refund worksheets.
• Handle long-term care premiums.
  • The program only exports calculated amounts to the Schedule A input.
• Export estimate payment dates related to additional estimated payments in the fourth quarter estimate.
• Handle net operating loss (NOL) calculations. All NOLs export into a single code.
• Auto-save detail.

Additional Limitations for Demo version of Lacerte Tax Planner

The Tax Planner Demo version allows tax preparers to navigate and view the functionality of the Tax Planner without having to license the Tax Planner first. There is no REP equivalent for the Tax Planner, it is either Demo, or Unlimited. Because of licensing control, the Lacerte Tax Planner Demo version has limitations:

• The demo tax plan can not be saved
• States cannot be added to a tax plan
• A hard coded adjustment is always computed when running the demo version; therefore, the U.S. Summary is typically incorrect (partial or incomplete calculations)