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- 2021 Form 1120 Box 16 NOT Foreign Taxes?
2021 Form 1120 Box 16 NOT Foreign Taxes?
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msindc1
Level 4
02-01-2023
11:35 AM
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Folks:
I am working on a personal 1040 for 2021. Client has a K-1 from an S corp with two entries for Box 16: B $900 and C $2,651. (These amounts appear on Lines 16b and 16c of Schedule K on the 1120-S and on the Schedule M-1 they are explained as Sales Tax Relief and Travel and Entertainment, respectively.)
WHERE should I put these amounts?! I don't think that they belong on Line 16, do they? They don't even seem to fit into the options on Lacerte for Box 16, they aren't foreign taxes. . . .
Micah
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