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Level 3
November 2, 2021
Question

Idaho apportioned income % not matching input?

  • November 2, 2021
  • 1 reply
  • 11 views

Hi there,

I am working on a final estate return. All income is Idaho source long-term capital gains from a property sale.

There are 8 heirs and this is the final return. Three heirs are Washington residents, all other are Idaho. 

The gains are divided evenly among the 8 heirs. I have entered 12.5 in each of the ordinary, short-term, and long-term input fields in screen 7 - Distribution Percentages. 

The figures are coming out correctly on the federal K-1, however, I had to enter the figures for the Idaho apportioned income in screen 43 - Schedule K-1 Overrides/Misc. (No tax is being withheld or paid on behalf of the heirs.)

So the dollar amounts on the Idaho K-1's are correct, but I cannot for the life of me figure out why the Beneficiary's percentage of distributive share does not match the 12.5% that I have entered. It is changing the 12.5% x 8 to 13.158% x 6 + 10.526 x2.

When I right click the field on the Idaho K-1 and jump to input, it brings me to screen 7 - 1041 Distributions, but none of the percentages on the forms matches the data I have entered. 

Any thoughts? 

 

 

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1 reply

Level 3
November 3, 2021

Update: I contacted Lacerte Support who determined that this is a software issue and have escalated it to developers. I was able to enter the distribution dollar amounts in screen 43 Schedule K-1 Overrides / Misc. and my workaround for the percentages is to use Adobe PDF editor to enter the correct amounts on all Idaho K-1's. Not ideal, but the paper return is now correct. 

sjrcpa
Level 15
November 3, 2021

Thanks for reporting back.

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