To join in on this discussion, you must first log in.

Discussion:Keogh contribution by partnership - Lacerte

From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

Jump to: navigation, search

Discussion Forum Index --> Tax Questions --> Keogh contribution by partnership - Lacerte


TaxPerson (talk|edits) said:

16 December 2006
Client's K-1 shows ordinary income $50k and guarantee payments $144k. In the notes attached, it also showed $22k contribution to Keogh (profit sharing plan). Do I net $50k with the $22k and enter $28k as ordinary income? If I need to enter them separately, where do I enter the $22k keogh contribution? I can't find a field that fits that description. Lacerte support is closed, could anyone help? I am using 2005 Lacerte. Thank you.

Riley2 (talk|edits) said:

16 December 2006
The $22,000 is entered in Screen 24.

Michaelstar (talk|edits) said:

17 December 2006
There is no place on the K-1 input screen to enter a Keogh contribution which is why Riley2 is pointing you the screen 24 in the program. That is the only place to go that I know of.

TaxPerson (talk|edits) said:

17 December 2006
Thank you both. I don't feel bad anymore knowing I was not the only one working on weekends, :-)

To join in on this discussion, you must first log in.
Personal tools