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Form 8990
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DVMCFO
Level 1
05-12-2021
10:43 PM
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After completing Form 8990 in Pro Connect my allowed business interest is $12,040. Why does the software not send this interest expense amount back to Line 13 on the 1120S? By not sending this $12,040 my balance sheet is out of balance. If I enter this $12,040 as an allowed amount override for interest expense the Form 8990 recalculates to another number. Has anyone else experienced this with Pro Connect? Technical support can't seem to provide any guidance.
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qbteachmt
Level 15
05-13-2021
11:32 AM
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You started an original topic here:
https://proconnect.intuit.com/community/proconnect-tax-discussions/discussion/form-8990/00/164271
On the same issue of Form 8990.
Now you have this in Two Places.
Have you read the instructions for Form 8990 from the IRS?
Also, read through the steps described by this Lacerte help article, to understand this gets distributed and allocated as applicable to your conditions:
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"Level Up" is a gaming function, not a real life function.
"Level Up" is a gaming function, not a real life function.
