irv68
Level 3
01-19-2022
06:54 AM
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How do you enter this type of payment on the K-1 for 2021 that will be provided to the shareholder?
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irv68
Level 3
01-19-2022
08:16 AM
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Thanks for a reply. I see where it should be on the state return. The interesting part would be how to get it there. There is no separate line on Federal Return that is used for this purpose.
garman22
Level 13
01-19-2022
08:30 AM
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I see where that could be an issue.
My guess would be 1120S under "taxes and licenses" and then Im guessing an entry would have to be made on the IL-1120st to add back that amount just like we do with replacement tax. I use UT for my corporate needs and thats where I add back the replacement tax on state. Im not sure if PS handles same way?