Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Where do you deduct section 174 research & development expenses that are on your scorp k-1

Highlighted
Level 1
 
Labels (1)
0 Cheers
3 Replies 3
Highlighted
Level 15
Aren't they already deducted to arrive at Line 1? Or are you asking about the credit?

ex-AllStar
0 Cheers
Highlighted
Level 1
Well, in looking at the Schedule K-1 Form 1120S - there is an amount in Box 12 with a code S?  Which they said were their share of IRC Section 174 research and development expenses incurred by the S-Corp.  However, there is also an amount of a credit in Box 13 with a Code M?  Thank you for your input!
0 Cheers
Highlighted
Level 1
No they are not already deducted from line 1
0 Cheers