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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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CA AB150
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WendyK
Level 1
03-15-2023
03:28 PM
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I have a client S-Corp that used AB150 last year (2021) and want to elect it again for 2022. They paid the tax for the 2021 credit in 2022. The 2022 instructions from Intuit tell me to add the credit to the CA 100S, Sch K line 13d, but doesn't clarify whether they mean the last year amount or the 2022 amount. And it says nothing about the federal return. I want to make sure the 2021 payment is on the federal 2022 return as an expense. Does Proseries do that or is it a manual entry? And if manual, where does it go?
Thanks,
Wendy
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