ELMORON
Level 1
07-16-2021
03:07 PM
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Accrual Method LLC K-1 deducted 2020 ERTC on 2020 return as Non Deductible expense( Included in Cost of Goods).Now In 2021 when I receive the Payroll credit how is this to be entered? Will it effect Partners equity?
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qbteachmt
Level 15
07-16-2021
04:35 PM
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ERTC nondeductible Expense?
And since you stated this is an Accrual Entity, you would have Accrued the credit:
That should help get you started.
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mike9
Level 4
07-16-2021
05:37 PM
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K-1 Non taxable Income IMHO:)
