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In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
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- how do i get a claim of right tax deduction in lacerte
how do i get a claim of right tax deduction in lacerte
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robertblisscpa
Level 1
02-25-2022
09:55 PM
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abctax55
Level 15
02-25-2022
10:27 PM
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ooooooops...... misread the question.
"*******Tax software is no substitute for a professional tax preparer*******
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George4Tacks
Level 15
02-26-2022
12:31 AM
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Deduction goes on Schedule A, Miscellaneous
OR
Credit goes in Screen 38 > Other Credits > Credit for repayments
Credit for Repayments (IRC 1341)
| Other Credits | Screen 38; Code 54 |
If the taxpayer had to repay an amount included in income in an earlier year, enter the amount that qualifies as a payment. The program includes this amount on Form 1040, Schedule 3 and prints "IRC 1341" on a supporting statement.
Here's wishing you many Happy Returns
