Lacerte new client with minimum tax credit carryover and taxable state and local refund

Forum|Forum|5 years ago
April 12, 2021
2 replies
15 views

Do I also need to complete the Federal and State Control Totals on Screen 49?

I am setting up a new client in 2020 individual Lacerte and working off the 2019 general information statement and have minimum tax credit carryover and taxable state and local refund carryover - how are these entered into the 2020 individual return? (SOLVED)

I have entered the state refund and completed the worksheet but not showing up as taxable. T/P itemized in 2019 and max'd out $10,000 in taxes. (SOLVED)

TIA

Lacerte Tax

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sjrcpa

Level 15

Control Totals are optional.

You need last year's tax return including the 8801 and 6251 in order to be able to enter the minimum tax credit carryover.

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

P

pat11Author

Level 5

As always, thank you SJRCPA. I do have the 2019 tax return and verifying the carryovers on General Info from the forms. I was able to right click and get back to input for the min tax and state tax.

thank you for the control totals response

George4Tacks

Level 15

FYI - That is why I create the 2019 return first and match it all up. Then I proforma.
Sometimes this even helps to point out errors in the previously filed return and I am ready to do the amended, if needed.

Answers are easy. Questions are hard!

P

pat11Author

Level 5

Thank you both for your responses. I don't usually setup the prior year. Maybe I should start...

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