How to populate Box E, F1, F2, F3 correctly on 1120-S K-1 Part II for disregarded entity without the disregarded entity showing on the state return as shareholder?

Donna G

The 2024 1120-S K-1 requires additional information from the prior year K-1. It is requesting the disregarded entity (shareholder of record) be shown in F1 and the reporting entity in F2 of Part II. Box E and F1 are populating from Screen 5 - shareholder information. The reporting entity is coming from Screen 36 where I have entered information regarding the shareholder that is disregarded so that schedule B question 3 and B-1 are reported correctly. The partner name and information I have used in prior years in screen 5 was that of the reporting entity, not the disregarded entity. This year the only way to get the F1 box to show the disregarded entity is to change the partner in screen 5 to the disregarded entity. However, that causes the state returns to populate with the disregarded entity information only, which I don't want because it is not being reported there. The disregarded entity is a grantor trust (IDGT) if that matters. Has anyone found a workaround for this? Or am I just looking at things wrong?

Kathi_at_Intuit

Hi @Donna G ,

Thanks for stopping by the community and posting. We would recommend reaching out to Lacerte support if you have not already. They would be able to assist with this.

We look forward to seeing you in the community.

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Donna G

Thank you Kathi_at_Intuit. I reached out to Lacerte support first and after an hour on the phone with someone and no resolution, the call was dropped and she didn't call back.

Kathi_at_Intuit

@Donna G Thank you for the confirmation that support was contacted. This is definitely not the experience we want you to have. We'll check into this and get back to you.

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How to populate Box E, F1, F2, F3 correctly on 1120-S K-1 Part II for disregarded entity without the disregarded entity showing on the state return as shareholder?

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