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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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- CA PTET AND OTHER STATE TAX CREDIT ON FORM 540
CA PTET AND OTHER STATE TAX CREDIT ON FORM 540
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sariscpa
Level 4
04-02-2023
09:15 AM
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Dear Proseries, ASAP!!! You need to take a look at your calculations on form CA 3804CR in your 2022 software. Line 4, that shows how much credit used for this year, is incorrect. It is using up the PET credit (code 242) before the amount on line 4 of 3804-CR resulting in an incorrect carryover to 2023. This produces an erroneous return and cannot be filed this way or risk the taxpayer losing their carry forward credit.
PLEASE ADDRESS ASAP!!!
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