I am having issue with computing Total Utah TC-40H Tax credit for a client who has a carryforward from prior year.
If Utah Tax is higher then sum of prior and current year credit(s), do I use the total or just the oldest prior year amount.
Hi @LA_Tax welcome to the Community and thanks for posting about the Utah TC-40H tax credit. Here is some information that we found that may or may not help with this from the UT State Historic Preservation Office:
Financial assistance for historic preservation
Under the Utah Historic Preservation Tax Credits section, there's a Utah Historic Preservation Tax Credits fact sheet that talks about the tax credit and carryforward amounts. If this doesn't help, you could contact Lacerte Support. While Support can’t provide tax advice or determine what the amount should be, they can help review any diagnostics generated for the form and show you where to review or edit entries in the software.
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