Common questions about New York shareholder's modifications in Lacerte

Below, you'll find answers to frequently asked questions referring to a Shareholder's share of New York modifications:

Where do you enter a shareholder's NY state modifications on an S corporate Schedule K-1 for an Individual return?

1. Go to Screen 20, Passthrough K-1's.
2. Under the Sections panel, select New York Partner's Share of Adjustments.
3. From the dropdown list in the Number column, select a valid adjustment code and description.
4. Make entries in both the Total Amount (Mandatory) column and NYS Allocated Amount column.