Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
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.
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Lacerte Tax
- :
- Lacerte Tax Discussions
- :
- How to enter the Credit on LA State Tax return for Repayment of W-2 wages to employer relating to SSDI
How to enter the Credit on LA State Tax return for Repayment of W-2 wages to employer relating to SSDI
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Jude
Level 1
06-10-2021
02:02 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I have calculated the credit for both Fed and State of LA tax return for repayment of wages to Employer in subsequent tax year pursuant to SSDI adjustment.
The Fed tax credit was properly placed screen 38.2 as "Credit for repayments (IRC 1341)
Question: Where do you input the Credit calculated for The State of Louisiana?
Labels
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
1 Comment 1
PKCPAMST
Level 5
06-10-2021
09:38 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
If a federal credit is taken under IRC Sec 1341, the taxpayer can take a deduction, not credit, on the Louisiana return.
In Lacerte, go to Screen 51 - Modifications. In the fourth field from the bottom - Other nontaxable income (Ctrl+E), enter “IRC Sec 1341” Income and the repaid amount. It will print on IT-540-2D, Schedule E under Exempt Income with Code 49E.
