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

  1. Go to Louisiana > General worksheet.
  2. Expand Section 2 - Statement of Owner's Share of Entity Level Tax Items.
  3. 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)
  4. 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)
  5. 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)
  6. 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)
  7. 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)
  8. 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)
  9. Go to Federal > Special Allocations > Special Allocations worksheet.
  10. Expand Section 3 - Ratio Allocation.
    • (Interview Form K-5)
  11. Input Ratio ID numbers and applicable allocation as needed to distribute information entered with steps 3-8 above.
  12. Calculate the return.

Note

  • CIFT-620 is a Library form at the time of this article's publication.
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