JS
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03-04-2021
02:08 PM
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Have a question about the CA- Main Street Small business Hiring Tax Credit, and entering it into Lacerte.
I have found the entry in the 1120S module to enter the Credit, and it shows up as a credit to the CA 100S - Form 3866 tax credit, but how do I elect to pass thru to the Shareholder? and not the 100S? I see the credit listed on the 100S K-1 as a credit (line 13d), but when Lacerte sends the K-1 to the client it disappears?
Where does it go?
Where do you enter the credit on the 1040? I have looked at all the credits in the K-1 entry screen - Line 13 (Credits & Withholding) and it is not there?
Any ideas of where to enter it?
Any ideas of where to enter it?
FYI- If I keep it on the 100S only 1/3 of the credit is allowable, but if I pass it through tot he shareholder 100% is allowed.
Or do I need to contact Lacerte support and wait for update?
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