TSBCTA
Level 1
11-15-2023
10:49 AM
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The deduction on the federal return is cash basis (regardless of their accounting method) - so yes the federal deduction will happen in 2023.. If you are amending the 1120S for the wages, the 511 should also be amended which will affect the PTE tax. That of course flows through to the MD return and associated credit and add back on the 502CR and 502 additions as well.