lmcarey1
Level 1
12-07-2019
09:34 AM
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sjrcpa
Level 15
12-07-2019
09:34 AM
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Aren't they already deducted to arrive at Line 1? Or are you asking about the credit?
The more I know the more I don’t know.
The more I know the more I don’t know.
lmcarey1
Level 1
12-07-2019
09:34 AM
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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!
lmcarey1
Level 1
12-07-2019
09:34 AM
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No they are not already deducted from line 1