For tax year 2023 returns: The IRS has implemented a new transition rule that delays reporting threshold changes. Your client may still receive 1099-Ks for transactions under the new, lower thresholds but they may not need to be separately stated in the tax return. Click here for more info.
This table will help you find Lacerte inputs to report amounts from common source documents.
|
Source Form
|
Description
| Input Instructions |
| Form 1099-A | Acquisition or Abandonment of Secured Property | Screen 17, Dispositions - Refer to Reporting Form 1099-A for an individual return in Lacerte. |
|
Form 1099-B
| Proceeds from Broker and Barter Exchange Transactions | Screen 17, Dispositions - Refer to Entering a 1099-B in Lacerte. |
|
Form 1099-C
|
Cancelation of Debt
| Screen 14.1, SS Benefits, Alimony, Miscellaneous Inc. - Cancelation of debt (1099-C) (Codes 6 & 56) - Refer to Entering Form 1099-C on an Individual return in Lacerte. |
| Form 1099-DIV | Dividends and Distributions | Screen 12, Dividend Income - Refer to Entering dividend income from Form 1099-DIV. |
| Form 1099-G | Certain Government Payments | Screen 14.2, State Refunds & Unemployment Comp. etc. - Refer to Entering Form 1099-G in Lacerte. |
| Form 1099-INT | Interest Income | Screen 11, Interest Income - Refer to Where do I enter Form 1099-INT interest income in the Individual module? |
| Form 1099-K | Payment Card and Third Party Network Transactions | Refer to Entering Form 1099-K transactions on Lacerte. |
| Form 1099-LTC | Long Term Care and Accelerated Death Benefits | Screen 32, HSA/MSA/LTC Contracts - Refer to Entering form 1099-LTC in Lacerte. |
| Form 1099-MISC | Miscellaneous Income | Various input screens - Refer to Entering Amounts from a Form 1099-MISC in the Individual Module. |
| Form 1099-NEC | Nonemploymee Compensation | Various input screens - Refer to How to enter Form 1099-NEC, Nonemployee Compensation. |
| Form 1099-OID | Original Issue Discount | Screen 11, Interest Income - Refer to Entering an Original issue discount from form 1099-OID in Lacerte. |
| Form 1099-PATR | Taxable Distributions Received From Cooperatives | Screen 24, Adjustments to Income - Refer to Entering Form 1099-PATR in Lacerte. |
|
Form 1099-Q
| Payments from Qualified Education Programs | Screen 14.3, Education Distributions (ESAs & QTPs) - Refer to Common questions for Form 1099-Q Education Distribution (ESA & QTPs). |
| Form 1099-R | Distributions From Pensions, Annuities, Retirement or Profit Sharing Plans, IRAs, Insurance Contracts, etc. | Screen 13.1, Pensions, IRAs - Refer to Common questions about Form 1099-R in Lacerte. |
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Form 1099-S
|
Proceeds from Real Estate Transactions
| Screen 17, Dispositions & Screen 22 - Depreciation (4562) - Refer to Entering Form 1099-S in Lacerte. |
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Form 1099-SA
|
Distributions From an HSA, Archer MSA, or Medicare Advantage MSA
| Screen 32, HSA/MSA/LTC Contracts - Refer to Entering Form 1099-SA Health Savings Account information; and Refer to Reporting Form 1099-SA for a Medical Savings Account in the Individual Module. |
|
Form 1098
|
Mortgage Interest Statement
| Screen 25, Itemized Deductions - Home mortgage interest & points on Form 1098 (A) - Refer to Entering home mortgage interest and other information from Form 1098 in Lacerte. |
|
Form 1098-E
|
Student Loan Interest Statement
| Screen 24, Adjustment to Income - Total qualified student loan interest paid (Codes 23 & 73) - Refer to Entering total qualified student loan interest paid. |
| Form 1098-MA | Mortgage Assistance Payments | Screen 25, Itemized Deductions - Refer to Reporting Form 1098-MA Mortgage Assistance Payments in the Individual Module in Lacerte. |
| Form 1098-T | Tuition Statement | Screen 38, Education Credits / Tuition Deduction - Refer to Entering amounts in Form 1098-T and generating Form 8863 in Lacerte. |
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