Common questions for IT-204-LL, New York LLC filings in Lacerte

The following are frequently asked questions about filing the IT-204-LL for disregarded entities in the individual module:

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How do I generate New York form IT-204-LL?

To generate NY form IT-204-LL for a sole proprietorship:

1. Go to Screen 16, Schedule C.
2. Scroll down to the Other Information section.
3. Check the box Single Member LLC.
4. Scroll down to the New York LLC Disregarded Entity (IT-204-LL) section.
5. Check the box LLC disregarded entity (Mandatory).
   • In 2008 and prior years, the checkbox is Print Form (Mandatory).

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To generate NY form IT-204-LL for a rental activity:

1. Go to Screen 18, Schedule E.
2. Scroll down to the Other Information section.
3. Check the box Single Member LLC.
4. Scroll down to the New York LLC Disregarded Entity (IT-204-LL) section.
5. Check the box LLC disregarded entity (Mandatory).

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To generate NY form IT-204-LL for another entity:

1. Go to Screen 54, Taxes.
2. Click on New York Other Separate SMLLC IT-204-LL from the left navigation panel. This will take you to Screen 54.098.
3. Check the box LLC Disregarded entity (Mandatory).
4. Complete the rest of this screen as necessary.

It is important to note that Form IT-204-LL will not generate if the No income gain/loss/deduction from NY sources box is checked. 

Per the IT-204-LL instructions:

"Form IT-204-LL, Partnership, Limited Liability Company, and Limited Liability Partnership Filing Fee Payment Form, must be filed by:

• every LLC that is a disregarded entity for federal income tax purposes that has income, gain, loss, or deduction from New York State sources; and
• every domestic or foreign LLC (including a limited liability investment company (LLIC) or a limited liability trust company (LLTC)), or LLP that is required to file a New York State partnership return and that has income, gain, loss, or deduction from New York State sources; and
• every regular partnership that is required to file a New York partnership return that has income, gain, loss, or deduction from New York State soruces, and had New York source gross income for the preceding tax year of at least $1 million.

Note: A partnership, LLC, or LLP with no income, gain, loss, or deduction from New York sources who is filing a partnership return solely because it has a New York resident partner, is formed under the laws of New York State, or is dormant, is not subject to the filing fee."

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How do I e-file the IT-204-LL?

1. Go to Screen 1, Client Information.
2. Check the box, New York Limited Liability, to set the LLC return for e-filing.
3. Go to Screen 54.099, New York IT-204LL E-File/Payment.
4. Add all of the New York LLC returns your client has on this screen, regardless of whether you're going to e-file all of them.
   • You must add each LLC return to this screen in the following order:
     1. Other LLCs 1, 2, 3...
     2. Sch. C LLC (Screen 16 activities) 1, 2, 3...
     3. Sch. E LLC (Screen 18 activities) 1, 2, 3...
5. Fill out the mandatory information for each LLC.
6. Lacerte will e-file all of these LLC returns by default. For any returns you wish to paper file, check the Do not e-file return box.
7. Complete any other information on this screen as needed.
8. Go to the Forms tab and verify the LLC returns are generating correctly.
9. Press Ctrl+U on your keyboard to launch the E-file wizard and follow the prompts displayed to e-file.

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How do I generate and file an Amended IT-204-LL for New York?

Note: The IT-204-LL can only be e-filed by Lacerte if it is the initial electronic filing of the NY LLC/LLP payment.  If the IT-204-LL has been e-filed previously and accepted, the form must be paper filed and the payment made on the New York State Department of Taxation and Finance web site.

To generate the Amended  IT-204-LL to paper file:

Individual:

1. Go to Screen 54.098, SMLLC IT-204-LL Information.
2. Check the box for "Amended IT-204-LL," (Code 12).

Partnership

1. Go to Screen 70.091, New York Amended Return
2. Check the box for "Amended IT-204-LL," (Code 38).

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