Form 3804-CR fiduciaries override Part II, line 4
There is an issue with the Form 3804-CR handling of the California PTEE. I have multiple trusts that have had California PTEE credits passed form partnerships to the trust and the credits will then passthrough to the beneficiaries via K-1. However, the current Lacerte version does not deduct the amount of the credit passed out to the beneficiaries from the amount carried over to future years for the trust. This is wrong and would incorrectly carry over more credit than available. The software allows me to add the credit amount to the K-1 via a note, but does not allow me to override the reduced credit amount (listed on Part II, line 4) to correct the carryover amount to 2022.
I just need the ability to override to get the returns correctly prepared as my clients are antsy and this has been going on for months.
I have submitted various requests previously and gotten nowhere and was told to come here for relief.
Previous Lacerte service requests:
1584150503
1583369136
1583363791
1582687036
1582678115
