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- Iowa PTET credits on amended IA 2022 1040 returns - Schedule CC doesn't foot and doesn't carry correctly to IA 1040
Iowa PTET credits on amended IA 2022 1040 returns - Schedule CC doesn't foot and doesn't carry correctly to IA 1040
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LauraE
Level 1
12-16-2023
01:28 PM
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When I follow the instructions for how to enter the credits for the individual partners/shareholders on the K-1 data entry screen, the credits show up on Schedule CC, but the total at the bottom of the schedule and the amount that carries to the credit line on the IA 1040 the total credit is quadrupled. How do I fix this? If I only enter a quarter of the credit the total is correct, but the line items are too small. Basically the Iowa Schedule CC in Lacerte 22 doesn't foot!
Help!! I have literally dozens of these that need to be done by 12/31/23.
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snodaker
Level 2
12-19-2023
01:49 PM
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One of our preparers had what sounds like the same issue this summer. There should be an Iowa diagnostic instructing you to use screen 3 and override the Iowa filing status. Using MFSC fixed the problem. The credit should be entered in the K-1 screen under Iowa Credits/Schedule CC (code 3630).
