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Level 2
December 7, 2019
Solved

Should LA IT-565 page 2 Schedule C reflect the same information as on Item L of the 1065 K-1s? Lacerte tech support says no, I say yes.

  • December 7, 2019
  • 2 replies
  • 14 views
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Best answer by PhoebeRoberts

My notes say, "Lacerte uses LA-source income for Sch C cap acct rec. Override in Screen 38.031."

2 replies

George4Tacks
Level 15
December 7, 2019
Is LA Schedule L line 21 the same as 1065 Schedule M-2?
Is this the first year of doing this return on Lacerte?
Answers are easy. Questions are hard!
PhoebeRoberts
Intuit Community Champion
December 7, 2019

My notes say, "Lacerte uses LA-source income for Sch C cap acct rec. Override in Screen 38.031."

Level 2
December 7, 2019
Thank you this helps.  I wonder why no one in Tech support could tell me this after numerous phone calls. It also does not explain why it carries 100% of nondeductible expense there, rather than the LA percentage, if it is just supposed to carry LA amounts there.