Entering partnership K-1, line 18B - Other tax-exempt income for a fiduciary return in Lacerte

Screen 25, Passthrough K-1's only has input fields for Schedule K-1, line 18A, Total municipal bonds and In-state municipal bonds.

Follow these steps to enter Schedule K-1, line 18B for a fiduciary return:

1. Go to Screen 20, Other Income.
2. Enter a Description.
3. Check the box labeled Tax-exempt.
4. Locate the Accounting Income subsection.
5. Enter the amount in the Income field.
   • This is the dollar amount of the other income item that is considered a part of the income portfolio for fiduciary accounting purposes.
6. Enter the Corpus field, if applicable.
   • Use this field if the amount is considered a part of the corpus portfolio for fiduciary accounting purposes.
7. Enter the Tax only (not in accounting income) field, if applicable.
   • Use this field if the amount is going to be excluded from the calculation of accounting income and used solely for tax purposes.