rhuang9914
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12-07-2019
07:15 AM
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We assume below: Part II Line 1 - $500,000; Line 2a - $600,000; Line 2c - $600,000; Line 3 will be -$100,000 (negative amount calculated by Lacerte). When Line 3 is -$100,000, the amount will flow to Form 1120 Schedule C Line 17 and the negative amount will offset taxable income.
If it's individual, the amount will flow to Schedule 1 Line 21 Other income.
If it's individual, the amount will flow to Schedule 1 Line 21 Other income.