When will Form K-1 be available for LaCerte 2020? I need it ASAP for tax planning

6 replies
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When I go to view the K-1 under the Forms tab, it says "This form is not available for this release."I am on the most current version of Lacerte 2020 Tax.

Lacerte Tax

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sjrcpa

Level 15

Late January at the earliest is my guess.

IRS has not even finalized it yet.

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

IRonMaN

Level 15

You need a final K-1 for tax planning? The system can't be massaged to get things roughed out?

Slava Ukraini!

J

JZGilleo11Author

Level 4

Just being able to see how its flowing onto a K-1 would be very helpful, so that I can confirm no checkboxes were missed.

They have the 1040 show with it watermarked "Do Not File", so I can't see why there isn't a K-1 like this.

I have a client with several layers of pass-throughs, so doing K-1's manually will be time consuming.

abctax55

Level 15

If you just can't "rough" out the numbers needed for year-end planning without a K-1, generate a "projected" one using the 2019 software.

Are you relying on the K1 data transfer option to do year-end planning?

HumanKind... Be Both

J

JZGilleo11Author

Level 4

This is my first year using LaCerte.

K-1 data transfer has worked ok, but the entities end in Grantor Trusts and I can't see the Grantor Letter to use to enter on the 1040.

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