russ1
Level 3
‎05-12-2025 10:28 AM

Client filed a 1065 in 2023.  There were two members of the LLC.  For 2024 there is now a single member LLC reported on Schedule C.  In 2024, the client paid the 2023 IL Replacement tax for the 1065.

Can I deduct this on schedule C for federal 1040 for 2024, and make an adjustment on Illinois 1040?

Thank you.

 

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sjrcpa
Level 15
‎05-12-2025 02:18 PM

I would


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russ1
Level 3
‎05-12-2025 02:49 PM

I'm reading that I can't.  But I may under other taxes and then make an Illinois adjustment.

 

Thanks

 

 

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sjrcpa
Level 15
‎05-12-2025 05:44 PM

Would it be deductible on a 1065?

 I didn't look anything up and obviously am not reading whatever you are.


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