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Level 1
May 27, 2021
Solved

Entering postponed gain from casualty or theft

  • May 27, 2021
  • 1 reply
  • 8 views

We acquired a new client that has a postponed gain from casualty or theft and I am trying to figure out how to enter that in Lacerte that it carries forward till they need to recognize it. How do I do that?

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Best answer by George4Tacks

Use NOTES to attach the required statement.

https://www.irs.gov/publications/p547#en_US_2020_publink1000225390

1 reply

George4Tacks
Level 15
May 27, 2021

Use NOTES to attach the required statement.

https://www.irs.gov/publications/p547#en_US_2020_publink1000225390

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