khunsandy
Level 3
08-09-2023
06:07 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Thank you again for your answer. I think I got what you explained. May be what I don't understand is the concept of tax expense. I did not include VA tax payment as expense in the 2022 K-1 as it was paid in 2023 and P&L is cash basis. Now, with credit being added back, I am inflating income.