Why is Lacerte auto attaching every basis schedule with 1040?

Forum|Forum|4 years ago
October 12, 2021
1 reply
6 views

Lacerte is auto attaching all basis schedules to 1040. I don't believe these are required, so I'm not sure if it's a glitch or I am missing something? I can turn auto generate off, but I'd rather know why they are attaching in the first place. The only one that should be attaching is an scorp with distributions in 2020 and this is already being picked up in the statements, so I'm unsure about why the other ones are being attached via pdf.

Lacerte Tax

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joshuabarksatlcs

Level 9

Check your:

Setting,Option

Basis Schedule. Did you set it to "Always with Statements"?

Be careful what you wish for; you may get it. (More than "may" when it comes to Lacerte.)

By the way, you can overwrite the default setting in Screen 3, Misc.

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D

Donna GAuthor

Level 3

The setting is "with statements for s-corp loss k-1's only"

joshuabarksatlcs

Level 9

Per Lacerte: Choose “With Statements for S-Corp loss K-1’s” to have the program print the basis schedule for those shareholder K-1’s that total to a loss in the statements, and have all other activities print in the worksheets.

I also have this in my Settings. Works exactly as per Lacerte for my clients.

Are you sure you didn't see the basis schedules for the others in the worksheets?

I come here for kudos and IRonMaN's jokes.

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