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Limitations of Lacerte Tax Planner

by Intuit• Updated 2 days ago

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)

After you have purchased the Lacerte Tax Planner, you may find it is still in the Demo version. Typically you will encounter this by going to save a plan, and finding the save option inactive. There are two methods to updating your license:

Method 1: You can download updated preparer information inside Lacerte Tax Planner:

  1. Open Lacerte Tax Planner
  2. Select the Tools menu
  3. Select Download Preparer Information
  4. When prompted to update the preparer information, select Yes

Method 2: You can download your preparer file from My Account, and update it in Lacerte Tax Planner:

  1. Sign into My Account
  2. Select Download Prep File
    • This will download a file called prep.23
  3. Open 2023 Lacerte Tax Planner
  4. Select the Tools menu
  5. Select Update Preparer Information
  6. Browse to the location that you saved the prep.23
    • For most browsers, the file will be saved to your Downloads folder automatically
  7. Select OK
  8. You will see a dialog indicating the preparer information has been updated, Select OK

Note: For Method 2, you can alternatively copy the prep.23 file into C:\Lacerte\23Taxpln\DATA\ instead of following steps 3-8.

Lacerte Tax Planner

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