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Level 3
December 28, 2021
Question

Can't seem to find how to alert Lacerte to calculation error on CO return

  • December 28, 2021
  • 1 reply
  • 10 views

Colorado law change for 2021 and 2022 tax years:  QBI deduction on federal return is a state addback for single filers with AGI over 500,000 and for married filing joint taxpayers with AGI over 1,000,000.

Lacerte tax summary in 2021 program is showing addback of QBI for taxpayers with AGI lower than these amounts.

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1 reply

Level 10
December 28, 2021

Interesting. Without trying to avoid the question, is the 2021 LC reliable and accurate at this time?  Being so early in the release state, is it advisable to use LC due to the remaining updates and gyrations needed?  I think I read somewhere that Intuit is advising preparers to use the Tax Planner and not to use LC.