Form 5329 will not print
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Entered code 1 as distribution code for $2590 gross distribution and taxable amount.
Have entered $2590 in amount to exclude from penalty and code 3.
Answer
I assume you mean that Screen 13.1, the following codes are the following amounts:
Code 4 is $2590, Code 24 is 1, Code 25 is $2590, Code 26 is 3, Code 810 is 1.
What other codes have amounts? Or what code did you leave out?
When I do a sample taxpayer, I get the 5329 showing the "disability" exception, no penalty on what otherwise appears to have a penalty based on the 1099R -- but yes, I get a 5329.
Answer
I'm not a Lacerte user, but in the ProSeries tax program there is a 5329 for the taxpayer and one for the spouse. Could the 1099-R be coded for the taxpayer and the 5329 coded for the spouse?
Comment
Lacerte doesn't really work that way - the 5239 input is on the screen you enter the 1099R on. So while you could have 2 distributions (one TP, one spouse), and have entered the amount / code for the exclusion on the wrong one, that would be a harder-to-make error than "forgot to check the spouse box on a separate screen."
Comment
Meanwhile, JAJG, we hope something we've written has solved your problem. I'm curious what the input was, especially if you tried to put in the codes I've suggested, and yet you can't get a printout.
Comment
I have entered the same info in all the codes you have, still no 5329. I think I need to call Lacerte. I think I might also set up a new client and see what happens.
Comment
This may be a dumb question, but by any chance is your taxpayer over 59.5 as of 2008? Possibly Lacerte is seeing the age and thinking "no problem." Or possibly the spouse you entered for the 1099R, is not the spouse who actually got the 1099R but the other spouse who is old enough not to have to worry about 5329's.
Comment
Finally figured it out!! Client had another 1099R which was properly had a disability code 3 in box 7. When I entered that information I had for some unknown reason checked the box to suppress the 5329. Software is only as good as the input!
Comment
What Amy said - I can't reproduce your problem.