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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- 2021 Form 1120 Box 16 NOT Foreign Taxes?
2021 Form 1120 Box 16 NOT Foreign Taxes?
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msindc1
Level 4
02-01-2023
11:35 AM
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Folks:
I am working on a personal 1040 for 2021. Client has a K-1 from an S corp with two entries for Box 16: B $900 and C $2,651. (These amounts appear on Lines 16b and 16c of Schedule K on the 1120-S and on the Schedule M-1 they are explained as Sales Tax Relief and Travel and Entertainment, respectively.)
WHERE should I put these amounts?! I don't think that they belong on Line 16, do they? They don't even seem to fit into the options on Lacerte for Box 16, they aren't foreign taxes. . . .
Micah
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