Using the Tax Summary in Lacerte

The Tax Summary in Lacerte provides a concise overview of the key figures in a tax return, including income, adjustments, deductions, tax liability, credits, and payments.

You can use it to quickly understand the overall tax calculation and see diganostics and explanations for the final refund or amount due to clients without having to navigate through every screen.

Understanding the Tax Summary

When in the desired client view, use the top row to select the Forms tab, then select Tax Summary from the bottom tabs.

Here, you can see your Federal Income Tax Summary for the current Tax Year, as well as a comparison of prior year amounts.

The prior year amounts flow from the following screens depending on your tax module, and can be adjusted if needed:

• Individual (1040): Screen 48
• Partnership (1065): Screen 35
• Corporate (1120): Screen 43
• S-Corporate (1120S): Screen 40

Use the arrows on the top left to navigate between different pages of the Tax Summary.