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12067

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12067

The following diagnostic is generating:

Capital Construction Funds reported as taxable income on the 1040 is not allowed for e-file. Though the IRS will not reject this return electronically, the return will be adjusted by the IRS as if the CCF was not included on the return thus affecting the refund or amount of tax due.

Solution:

If there should be no Capital Construction Funds check: Screen 16>Commercial Fishermen>Capital construction fund deduction (1040, line 43) (code 92) Screen 20.1>Line 13 - Other Deductions>Capital construction fund (Code 864) Screen 20.2>Line 12 - Other Deductions>Capital construction fund (Code 864)

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