Entering partnership K-1 line 13, code R in the individual module in Lacerte

This article will help to report Line 13, code R, from passthrough partnership K-1 in the individual module.

Code R - Pensions and IRAs: Payments made on the taxpayer's behalf to an IRA, qualified plan, simplified employee pension (SEP), or a SIMPLE IRA plan.

• Refer to Form 1040 instructions for line 32 to figure your IRA deduction.
• Enter payments made to a qualified plan, SEP, or SIMPLE IRA plan on Form 1040, line 28.
• If the payments to a qualified plan were to a defined benefit plan, the partnership should give you a statement showing the amount of the benefit accrued for the current tax year.

To enter line 13, code R for an IRA:

1. Go to Screen 24, Adjustments to Income.
2. In the Traditional IRA section, enter the amount or a 1 in the field IRA contributions (1 = maximum deduction).

To enter line 13, code R for qualified plans:

1. Go to Screen 24, Adjustments to Income.
2. Select the SEP, SIMPLE, Qualified Plans section from the left sections menu.
3. Enter an amount or a 1 in Profit-sharing (25%/1.25) (1 = maximum), if applicable.
4. Enter an amount or a 1 in Money purchase (25%/1.25) (1 = maximum), if applicable.

To enter line 13, code R for SEP:

1. Go to Screen 24, Adjustments to Income.
2. Select the SEP, SIMPLE, Qualified Plans section from the left sections menu.
3. Enter an amount or a 1 in Self-employed SEP (25%/1.25) (1 = maximum).

To enter line 13, code R for SIMPLE:

1. Go to Screen 24, Adjustments to Income.
2. Select the SEP, SIMPLE, Qualified Plans section from the left sections menu.
3. Locate the SIMPLE subsection.
4. Enter an amount or a 1 in Self-employed SIMPLE (1 = maximum).

To enter line 13, code R for a defined benefit plan:

1. Go to Screen 24, Adjustments to Income.
2. Select the SEP, SIMPLE, Qualified Plans section from the left sections menu.
3. Enter the amount in Defined benefit (no limitations).