New
Separate K-1 activity input for K-1s that include more than one activity
I have several individual clients that own interests in partnerships that report several activities on one K-1. In order to input this in Lacerte, it is necessary to set up separate Passthrough K-1 input screens for each activity, even though all activity is reported on a single K-1. This potentially causes additional time for the separate basis calculations, at-risk basis calculations, and passive activity limitations.
I believe this is something that other large software vendors provide. Lacerte does have the option of reporting separate activities for the purposes of 199A, but it would be very helpful if all other items could be reported on an activity by activity basis on a single K-1 input screen as well.
