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Level 5
September 28, 2022
Solved

Fiduciary - Basis Limitation

  • September 28, 2022
  • 1 reply
  • 10 views

Trust receives a K-1 reporting a loss that should be limited by the basis limitation (K-1 from an 1120S to an ESBT).  Is there a way to track that in Lacerte?  Or do I rely on Excel and only input in Lacerte amounts that are not limited by basis?

Thank you!

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Best answer by sjrcpa

"rely on Excel and only input in Lacerte amounts that are not limited by basis"

1 reply

sjrcpa
sjrcpaAnswer
Level 15
September 28, 2022

"rely on Excel and only input in Lacerte amounts that are not limited by basis"

The more I know the more I don’t know.
TaxGirl3Author
Level 5
September 28, 2022

I answered my own question, but now I know I answered it correctly.  Thank you!  😀

sjrcpa
Level 15
September 28, 2022

You're welcome.

The more I know the more I don’t know.