CPA17
Level 2
01-28-2022
07:08 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Dear All!
I am having difficulties calculating "taxes paid to other states" while preparing IL-1040 for year 2020. Taxpayer has multiple K-1s from IL, WI and NJ (s corporations and partnerships). IL-1040 sch. CR automatically takes into consideration taxes paid to NJ, but not for the WI. I know WI is a reciprocal state for WI, but reciprocal agreement is only for Wages, etc. not for the business income. Due to s corporation income, taxpayer is paying taxes to WI (filing non-resident in WI). But IL-1040 doesn't consider these taxes paid to other state in Sch. CR.
Question is, how do I get this credit flow into Sch. CR? or,
Labels