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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.
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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gregwong6
Level 1
06-01-2021
03:29 PM
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I have a client getting a pass-through K-1 with a business credit from Form 3800. It is saying:
"If any form 3800, Part III, checkbox B is checked (General Business Credit from passive activity), then Part III line 1bb(c) (CY Gen Bus CR Electing Large Partnership amount) must be equal to zero if an amount is entered".
Does this mean that I have to zero out line 1bb? So my client won't get the credit?
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