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My client is not repeating a Georgia state tax credit for 2025 but I am unable to get the software to adjust to -0-. I've tried entering a negative adjustment but it won't reflect on the report. Help!
Tax | 61,455 | 33,865 | 95,320 | |||
Nonrefundable credits | 50,000 | 0 | 50,000 | |||
Nonrefundable credits adjustment | 0 | (50,000) | ||||
Net tax | 11,455 | 33,865 | 45,320 |
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In Lacerte and ProConnect a zero (0) really does not exist unless you use negative one (-1)
Answers are easy. Questions are hard!
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Ahhh... good suggestion but didn't work. It just doesn't want to take my adjustment into the calculations. Thanks though!
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Which software are you using ITA with?
Answers are easy. Questions are hard!
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Lacerte.
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In situations where the credit being adjusted off is not its own separate line item inside Intuit Tax Advisor, the adjustment you make will not adjust up in the top portion. However, the bottom line for tax due and taxable income will be adjusted. This includes items on the Federal return that fall under "Other Taxes" section as well, that have a similar situation. If you need further assistance, please give support a call.
