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Level 2
September 23, 2024
New

California K1 Import

Related products:Lacerte
  • September 23, 2024
  • 1 reply
  • 6 views

When importing a K-1 for California, the software inputs the California source amount from the K-1 into the "state if different" box. This is incorrect as it is creating a Federal vs. state adjustment reflecting the amounts not sourced to the state rather that differences in income calculation under California law.

State if different box should import column D of the K-1, while column E of the K1 should go in the state source amount box.

 

1 reply

Level 2
September 24, 2024

great idea!