CARRYOVER OF WOTC AND TIP CREDIT

[mike9]

Hi

I have a client with 9  K-1's. Each of those entities have current and carryover of Work Opportunity Tax Credit and Tip Credit. He owes a lot of taxes this year ($145K)  but the 1040 credit opnly shows the current year credits  of $43K . He has carryovers from 2020 of $14K in Tip credits and $62K in WOTC for a total of $76K and he should be allowed to apply all the credits for a total of $119 ($43+$76)  right?

How do I get the carryover credits to be allowed?

Anyhelp will be immensely appreciated

Mike 

[dkh]

Have you completed the 3800 Worksheet Credit Carryforwards information ?   If I remember correctly from a prior year return I did with a tip credit carryforward,  the amount was there but wouldn't populate without some information on the 3800 Worksheet

[mike9]

Thanks so much for your reponse. You are right it wont populate fromt he previous year like an NOL would

You will need ot manually enter the Carryover and then add as one line ( eventhough it is coming from different entities) at the bottom of the 3800 consolidated  worksheet . Pro Series folks could not figure this out either