I have a 1040 Schedule C client who has carried forward the Social Security Tips Tax Credit from prior years because he had no tax liability to offset it against in prior years. The carried forward credit shows up in the Carryover Worksheet on Line 18 (General Business Credit), but it doesn't seem to be transferring into the current (2024) year's return -- only the Social Security Tips Tax Credit for the current year is populating on Forms 8846 and 3800.
I'm assuming it's user error. Can someone tell me how to get the prior years' credits where they need to go in order to claim them this year? The client has great income for 2024, so would very much like to use them.
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Okay, now it's getting a bit weird. The prior years' credits just suddenly populated to Line 34 on Form 3800, just like they're supposed to. I just haven't a clue of what I did that they suddenly appeared. 🙃
Okay, now it's getting a bit weird. The prior years' credits just suddenly populated to Line 34 on Form 3800, just like they're supposed to. I just haven't a clue of what I did that they suddenly appeared. 🙃
I had something similar happen last week, I cant remember what it was, but it wasnt where it was supposed to be, then all of the sudden it was. Not sure what I did or didnt do, but it was working correctly so I just moved on.
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