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reconcile federal and state difference from pass though entities

aya
Level 2

I see the informational diagnostic as above.  Is it important to reconcile?  I know somethings in information diagnostics are sometimes crucial but not always.

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2 Comments 2

There are basis difference between Federal and states. Form 7203 will give you an idea of the importance of reconciling.

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aya
Level 2

I see the difference and I enter the different amount in Federal income and State income.  OK I will follow the instruction and see if that's important Thanks