jgalak
Level 1
02-16-2022
12:15 PM
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"This credit is adjusted as an addback on the 1040 not the partnership return. "
I would expect this addback to be reported by Partnership to the taxpayer on Form IT-204-IP, line 20, with code EA-219.
Likewise, I'd expect it to be reported by an S-Corp on CT-34-SH, line 3, with an attached CT-225 with the amount listed there under code EA-219.
This would treat it the same way as any other State vs Federal addback - depreciation differences, state and local tax, etc.
And yet, there's absolutely no way I've been able to find in Lacerte to make this entry on either the IT-204-IP or the CT-225.