Form 5471 Schedule P Critical Diagnostic

9 replies
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Has anyone had an issue E-filing due to Form #5471 Schedule P. A critical diagnostic #2051972 contiunes to occur even though I have attached a PDF of Sch P as the requested. Any thoughts?

Lacerte Tax

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itonewbieAnswer

Level 15

Ah, that's because you didn't link it to the right form. You must choose 69 = Form 5471, Schedule P and make sure you select the correct Activity name from the dropdown.

Once you complete the above, the CD will disappear automatically.

---------------------------------------------------------------------------------Still an AllStar

itonewbie

Level 15

But why would you need to attach Sch P as a PDF and what does the diagnostic that prompts you to do so say?

---------------------------------------------------------------------------------Still an AllStar

F

FMESAuthor

Level 4

Good question. Lacerte's diagnostics indicated that if you are filing a CAT 5 Form 5471, you need to include Schedule P or you get a critical error. Ironically, the foreign corporation is new and has never had any profit & earnings, and therefore there is no previously taxed E&P to report.

Once you include the Schedule P, Lacerte's diagnostics indicate that the Schedule P can't be E-filed and you are instructed to attach a PDF copy and link it to Form 5471 Schedule P on input sheet EF 4.1. I did this, but the Schedule P diagnostic doesn't go away.

The specific Critical Diagnostic Warning is "e-file: Form 5471 #1: Schedule P is not included in the efile and must be manually attached in the Electronic Filing screen as a PDF attachment. [ref. #2051972]

Any assistance in resolving this issue so that I can e-file would be greatly appreciated. FYI, this is for a 2018 individual tax return.

itonewbieAnswer

Level 15

Ah, that's because you didn't link it to the right form. You must choose 69 = Form 5471, Schedule P and make sure you select the correct Activity name from the dropdown.

Once you complete the above, the CD will disappear automatically.

---------------------------------------------------------------------------------Still an AllStar

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