Does Lacerte provide a summary P & L for attachment to each K-1?According to the K-1 Form, there is to be a supported stmt for each beneficiary for each rental activity.

Forum|Forum|6 years ago
December 7, 2019
1 reply
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I am preparing a 1041, which includes rental real estate activity. I should be providing a P & L for each rental activity, per instructions on the K-1. Does Lacerte provide a fill in form for this, or do I need to make my own?

Lacerte Tax

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Best answer by PhoebeRoberts

Schedule K-1 Rental R.E. Statement: 1 if Yes, 2 if No [O] User Option Overrides Screen 3; Code 9

Make an entry to override the default set in User Options. Enter 1 to print Rental Real Estate Schedules with each partner's Schedule K-1, or enter 2 to suppress the printing of Rental Real Estate Schedules.

PhoebeRoberts

Answer

Intuit Community Champion

Schedule K-1 Rental R.E. Statement: 1 if Yes, 2 if No [O] User Option Overrides Screen 3; Code 9

Make an entry to override the default set in User Options. Enter 1 to print Rental Real Estate Schedules with each partner's Schedule K-1, or enter 2 to suppress the printing of Rental Real Estate Schedules.

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