lmcarey1
Level 1
 
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sjrcpa
Level 15
Aren't they already deducted to arrive at Line 1? Or are you asking about the credit?

Ex-AllStar
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lmcarey1
Level 1
Well, in looking at the Schedule K-1 Form 1120S - there is an amount in Box 12 with a code S?  Which they said were their share of IRC Section 174 research and development expenses incurred by the S-Corp.  However, there is also an amount of a credit in Box 13 with a Code M?  Thank you for your input!
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lmcarey1
Level 1
No they are not already deducted from line 1
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