Babayface1
Level 2
05-10-2022
08:17 PM
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ERC increases federal k-1 income (since the wage expense is reduced for the amount of the ERC)
What happens to Ca k-1 income since the wage is not reduced. Does this mean that ERC is not taxable income to Ca? Will our federal k-1 income be higher than Ca k-1 income by the amount of the ERC?
Please help