In Georgia when an S corporation elects to pay its income tax at the entity level, certain adjustments must be made on Schedule 8 of form 600S. The two most common are section 179 and charitable contributions. Why is this not being transferred to Schedule 8 automatically? I understand that these deductions may be limited but if I can compute the limit manually, Proseries should be able to compute it for me. Other tax programs are doing this automatically.
Before someone challenges me on my understanding of Georgia law, read the regulations under chapter 560-7-3. It clearly states that the tax is computed as if the entity was a C corporation.
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