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Level 2
December 7, 2019
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965-A Transition Tax

  • December 7, 2019
  • 6 replies
  • 26 views
Where is the form?
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Best answer by itonewbie

Are you filing a late 2017 return?  If so, you may consider preparing that on PDF and attaching it to the return as prior year tax products will likely not be updated for forms that are published in subsequent years even if those forms are retroactive.

If you are preparing a 2018 return, it just needs to reflect the transition tax for 2017 (even if fully paid) and any outstanding liability on the 2018 returns (and in future years until it is fully settled).  The input screen for Line 1 of Part I of F.965-A is on Screen 45.5.

6 replies

sjrcpa
Level 15
December 7, 2019
You selected Lacerte 2017 as your product. The forms for the 965 tax are for 2018 returns.
The more I know the more I don’t know.
joe2Author
Level 2
December 7, 2019
sjrcpa
Level 15
December 7, 2019
The tax was in effect for 2017, there were no forms for 2017.
The more I know the more I don’t know.
joe2Author
Level 2
December 7, 2019
Lacerte has a 965 Statement
sjrcpa
Level 15
December 7, 2019
Yes that is how it was done for 2017.
The more I know the more I don’t know.
itonewbie
itonewbieAnswer
Level 15
December 7, 2019

Are you filing a late 2017 return?  If so, you may consider preparing that on PDF and attaching it to the return as prior year tax products will likely not be updated for forms that are published in subsequent years even if those forms are retroactive.

If you are preparing a 2018 return, it just needs to reflect the transition tax for 2017 (even if fully paid) and any outstanding liability on the 2018 returns (and in future years until it is fully settled).  The input screen for Line 1 of Part I of F.965-A is on Screen 45.5.

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joe2Author
Level 2
December 7, 2019
I'm filing an amended 5471 to include the 965 transition. Will the necessary information carry over to the 2018 or do I need to reenter it?