How do I generate Louisiana Form R-6981 and R-6982 with a 1065 return using CCH® ProSystem fx® Tax and CCH Axcess™ Tax?
- Article Type:
- How To
- Last Modified:
- 06/20/2023
Objectives
How to prepare Louisiana Form R-6981 and R-6982?
Environment
- CCH® ProSystem fx® Tax
- CCH Axcess™ Tax
- Partnership - 1065
- Louisiana - LA
Procedure
- Go to Louisiana > General worksheet.
- Expand Section 2 - Statement of Owner's Share of Entity Level Tax Items.
- In Column Amount Reported on Federal Schedule K-1, in lines 1-15, 21 and 22, input totals as they appear on CIFT-620 and, if needed, a unique Ratio ID for each applicable line.
- (Interview Form LA11, boxes 30-66, 175-181)
- In Column Amount Taxes at Entity Level, in lines 1-22 , input the total portion, if not all, of the amounts input in step 3, and either the same Ratio ID as in step 3 or a unique ratio ID for each applicable line.
- (Interview Form LA11, boxes 32-183)
- In Line 23 - Louisiana Income tax, input applicable amount as a total of all partners R-6981, part III line of the same name.
- (Interview Form LA11, box 112)
- In Line 24 - Related Members Interest/Intangible/Management fee expenses or costs, input applicable amount as a total of all partners R-6981, part III, line of the same name.
- (Interview Form LA11, box 118)
- In Column Income (Loss) Taxable at Owner's Level, in lines 1-22 (Interview Form LA11, boxes 34-185), input the total portion, if not all, of the amounts input in step 3, and either the same Ratio ID as in step 3 and 4, or a unique ratio ID for each applicable line.
- (Interview Form LA11, boxes 34-185)
- In Line 25 - Taxes Paid if passed to owners, input total amount and Ratio ID number as it should appear and be allocated on Form R-6982.
- (Interview Form LA11, box 130)
- Go to Federal > Special Allocations > Special Allocations worksheet.
- Expand Section 3 - Ratio Allocation.
- (Interview Form K-5)
- Input Ratio ID numbers and applicable allocation as needed to distribute information entered with steps 3-8 above.
- Calculate the return.
Note
- CIFT-620 is a Library form at the time of this article's publication.
Solution Id | 000204979/000204979 |
---|---|
Direct Link |