Level 2

Fiduciary returns

Forum|Forum|6 years ago
February 10, 2020
1 reply
14 views

I have 5 trusts for same family. I have 2 diagnostics for each. IT 205 page 2 sch. B. - Not sure what this is? Also it wants a Fiduciary Adjustment Schedule. Does this have to do with previous years NYS overpymnt? Also, is there somewhere we can look up the Lacerte codes?

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George4Tacks

Level 15

Lacerte does things pretty automatic from input in various entries throughout the program. A good learning tool is a sample return. Use Crtrl + R to Restore two sample returns from C:\LACERTE\19TAX\DEMODATA\ Take the Simple Return 02SAMPLE and make the primary state NY and go to town. You will need to REP, but there is no charge if the EIN is all 9's.

I am assuming you may have some non resident beneficiaries or some tax free income. The key tool to find an input is to go to the forms view. Find the line (or box) that you want entry for and RIGHT CLICK that line (or box), then select "Jump to Input"

I believe the two items you are asking about are related. I do not do NY Returns, but I have experience massaging Lacerte.

P.S. Your question should be a Lacerte Discussions question, rather than a generic Tax Talk.

Answers are easy. Questions are hard!

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