Discussion:Long Term Minimum Tax carryover to 2009 in Lacerte

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Discussion Forum Index --> Business Growth Community --> Long Term Minimum Tax carryover to 2009 in Lacerte

Cody2826 (talk|edits) said:

8 April 2009
Hello, not sure how many people this might affect. It appears the long term credit carryover to 2009 in Lacerte is not calculating correctly. The client has a MTC from tax year 2007. When we look at the 2009 projection, it is taking 50% of the carryover, however the 50% is only allowed on long term minimum credits. For 2009, the long term credit would be anything before tax year 2007.

We called Lacerte and the programers are looking into it.

Maybe we are missing something, but be careful on your 2009 projections that claim large refundable minimum tax credits.

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