Colmatt
Level 5
03-10-2021
01:48 PM
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K-1 1120-S federal amount is different than the state amount. The state is higher by few thousand. I see where to make adjustment in state program but not sure what to put under explanation. The documents from 1120-S CPA does not include what the difference is. Any guidance is appreciated.
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PATAX
Level 15
03-10-2021
01:57 PM
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It could be a federal/state depreciation difference.. But I am not sure... just my opinion.
Colmatt
Level 5
03-10-2021
02:24 PM
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Thought so too. Does it really matter what the statement says? Can I just put something like "State tax adjustments".?
