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I can find on form 3800 where the allowable credit would be limited by sect 383, but I don't find how to override line 17 so it reduced what is on front of 1120?

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Screen 28, way down at the bottom:

Section 383/384 Limitation

MiscellaneousScreen 28; Code 498

Enter any limitation on the amount of the general business credit that can be applied due to ownership change. Or, enter the limitation on the use of pre-acquisition excess credits of one corporation to offset the tax attributable to recognized built-in gains of another corporation. Attach a computation of the allowable general business credit. Use the next field, “IRC section for limitation: 1=383 (default), 2=384” (Screen 28.1, code 499) as necessary to designate the appropriate verbiage to print, such as “Sec 383” or “Sec 384.”


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Thanks, I've tried that and it isn't pulling through to form 3800. I tried o. the usual -1 and the amount of credit that is being computed. ????

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Are you saying the allowable is zero?
I entered -1 for limitation and r the 1 =383 in the next entry for IRC section for limitation and got a zero.

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yes. I put in -1, and the line 17 is zero. but on page two it's still allowing the credit. I can't seem to find how to override ...

I want page two of 3800 to show zero as the allowed amount. because of the change in ownership, and the fact that I also have nol's that are limited, i want the allowed credit = 0

if i put the amount that is being computed as allowed as a limitation on the input line we are speaking of, thinking it will end up on line 28 in order to reduce the credit, it still doesn't work through. 

I can make it work by deleting the credit carryforward entirely and printing the page, and the re-entering it...for carryforward purposes, and file paper.

 

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Contact support so that they can see all your data and help you out. Too many variables to handle on this forum with another user. 

https://proconnect.intuit.com/community/taxation/help/how-to-contact-lacerte-for-help/00/4691


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