MN M1PR and Qualified Charitable Distribution

Forum|Forum|5 years ago
August 18, 2020
2 replies
28 views

It appears that Charitable IRA Distributions entered on the pension screen are not flowing to the form M1PR (property return for Minnesota) as Additions to Income. Anyone else had this issue? I have had a property tax return audit for a client on this. I would think it would have been an automatic flow through.

Lacerte Tax

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Best answer by IRonMaN

I don't do Lacerte, so I can't answer that part of the question, but for what it's worth, it isn't an automatic addback in ProSeries either.

IRonMaNAnswer

Level 15

I don't do Lacerte, so I can't answer that part of the question, but for what it's worth, it isn't an automatic addback in ProSeries either.

Slava Ukraini!

T

TaxLadyTerri

Level 3

Lacerte is seriously lacking on the M1PR return. Yes, you have to manually add back the QCD from an IRA. Screen 53, MN Household Income, Additional Income line.

I also have to fake out the form when someone has an annuity withdrawal with their contributions listed in box 5 on form 1099-R. Lacerte includes the total withdrawal on M1PR, not the taxable amount. So my work around is to enter in the after-tax contribution on the line that says “gross distribution from 1035 exchange”. This way, that amount doesn’t show up in income and I have the 1099-R to back up what I did. I used to be able to enter a negative number with the explanation, but no more. When I checked with MN Revenue, they said the software was wrong and it should be changed. I didn’t bother to do that as Lacerte doesn’t listen and is hard to reach. Maybe they should have a Minnesota preparer assist the software developers with their forms. Just saying!

sjrcpa

Level 15

Intuit doesn't learn.

Remember the year that MN stopped accepting tax returns from Intuit until they fixed the errors?

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

IRonMaN

Level 15

Some of us remember that year quite well🤢

Slava Ukraini!

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