IL Schedule SA Specific Accounting Method of Computing Net Income for Individuals in Lacerte
by Intuit• Updated 3 weeks ago
Does Lacertesupport Illinois (IL-1040) Schedule SA - Specific Accounting Method of Computing Net Income for Individuals?
Solution:
Illinois Schedule SA has been included in the Illinois form set in the following tax types starting with the 2017 program:
- Individual
- Fiduciary
- Corporate
- Exempt
This form can be accessed on the IL Department of Revenue website: https://www2.illinois.gov/rev/individuals/Pages/default.aspx
If you are using the specific accounting method to calculate the tax, and the Schedule SA has been manually prepared outside of Lacerte;
- Go to Screen 54.071, Illinois Taxes.
- Enter the calculated amount in the field Schedule SA tax [O] (code 3).
- This entry overrides Illinois tax before recapture of investments credits on IL-1040, line 13.
The instructions for this schedule indicate it must be included with the filing of the return. At this time IL does not support PDF attachments with e-field returns. This return must be paper filed.
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