Question
How to Fix Form 5471 Schedule G-1 Critical Diagnostic
A Category 2 & 3 Form 5471 filer is getting the Schedule G-1 Critical Diagnostic (ref. #2056586) even though “No” is selected for Schedule G, Question 7 (“During the tax year, was the foreign corporation a participant in any cost sharing arrangement?”). Since Schedule G-1 isn’t required in this situation, what’s the best way to clear/fix this critical diagnostic in Lacerte? Any guidance would be greatly appreciated.
