2021 Lacerte Form 1065 K-1 Box 21 Foreign Taxes Paid

Forum|Forum|4 years ago
February 8, 2022
2 replies
12 views

The right click "Jump to Input" feature is not available on this field - Box 21 on the K-1 for Form 1065 in the 2021 Lacerte Tax Program. All the responses from the Community are for 2020 versions and earlier. The 2021 version has changed the location of the data entry. I'd love to know where it now is. Thanks.

Lacerte Tax

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TaxMom12

Level 4

Through conversation with another preparer, there are new K2 & K3 forms to be completed related to foreign transactions (nearly 40 pages in total).

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ShellyDAuthor

Level 2

Thanks so much for your reply. Seems like an absolute overkill for less than $300 of Foreign Taxes withheld on a mutual fund investment. To the best of your knowledge, is there an option available for an LLC similar to Schedule 3 for an individual to take a direct deduction for foreign taxes withheld less than $300?

PhoebeRoberts

Intuit Community Champion

Screens 78 and 79 in Lacerte 1065.

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ShellyDAuthor

Level 2

Thank you much for your direct answer on the entry screens. I arrived at Screen 78 through the back door but am not having much success in entering the Foreign Taxes Withheld on a Mutual Fund in the correct location to generate any figure in Box 21 on Schedule K-1. Any direction you could provide would be greatly appreciated.

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