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- Passive General Business Credit Carryover Not Being Applied on 1040 Return
Passive General Business Credit Carryover Not Being Applied on 1040 Return
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Tax Explorer
Level 5
10-03-2025
05:01 PM
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Hi,
I'm having an issue with the passive general business credit not be applied correctly to a 2024 individual return. The individual had a passive general business credit from Form 3468, Part VI in Tax Year 2023, part of which was unused and carried forward to Tax Year 2024. ProSeries seems to transfer the credit carryforward correctly but for some reason, the carryforward is not applied on the return. Has anyone had an issue with ProSeries not applying the carried forward passive business credit correctly on the 1040 return? I can send an example of my issue if needed.
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sjrcpa
Level 15
10-03-2025
05:39 PM
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Is there taxable income from that passive activity in 2024?
The more I know the more I don’t know.
