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Where in Lacerte individual module do you report S Corporation Schedule K-1, Line 17, Code AC?

scott1
Level 1
 
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PhoebeRoberts
Level 9
Level 9

What does Code AC represent, and what effect would you like that amount to have on your tax return?

George4Tacks
Level 15

From the shareholder instructions that should come with the K-1:

Code AC. Gross receipts for section 448(c) Use the gross receipts amount to figure the business interest
expense you can deduct, if applicable. See section 163(j) and the Instructions for Form 8990 for details.


ex-AllStar