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Level 2
March 4, 2020
Question

FORM 8978

  • March 4, 2020
  • 2 replies
  • 29 views

Any idea where the information from Form 8978 goes on the tax return?

This topic has been closed for replies.

2 replies

Level 3
April 3, 2020

 

IF ITS A REDUCTION OF TAX, IT GOES ON SCHEDULE 3, LINE 6C, BUT I DON'T KNOW HOW TO GET IT THERE......

 

 

Level 3
June 8, 2021

Has anyone figured out how to input this yet?

George4Tacks
Level 15
June 8, 2021

While in the input or detail screen use Ctrl + F to start a search. Find an input field - Search for 8978 > Click on the "Partner's audit ...." and VOILA! There it is!

Answers are easy. Questions are hard!
Level 2
June 9, 2021

yea! - this has stumped us - we have 4  to complete - needed this answer -so a negative will be a positive on the 1040 correct

Level 3
June 9, 2021

First you manually prepare Form 8978, Lacerte doesn't do that. Looks like when the adjustment favors the taxpayer inputting a negative number in Screen 45.3 causes it to carry to Schedule 3 Line 6.  If you owe additional tax,  enter a positive number. Lacerte adds this to the total tax and increases Form 1040 Line 16.  Either way you get a diagnostic saying it can't be efiled, even after attaching the Form 8978.