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Level 3
September 29, 2021
Question

Where to I enter an IRC sec 743(c) negative adj? Shown on the Schedule K-1 at 13V

  • September 29, 2021
  • 1 reply
  • 3 views

This adjustment is $33,111 so I would like to have it appropriately labeled in my clients returns

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1 reply

sjrcpa
Level 15
September 30, 2021

In the K-1 Screen , Other Deductions.

The more I know the more I don’t know.
Level 3
September 30, 2021

This advice is erroneous. The list 13 codes only goes up to 0 and and I want a place for V. If Lacerte spent more time keeping up  with changes in the tax law and less with federal and state alleged e-filing mandates, it would be a better tax prep software. 

sjrcpa
Level 15
September 30, 2021

That's still where you enter it- Separately Stated Deductions

 

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