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Entering Form 8846 credit information makes the balance sheet out of balance
by Intuit• Updated 2 years ago
When entering credit information for Form 8846, Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips, in Lacerte, the Retained Earnings for the end of the year changes by the amount of the credit. This causes the balance sheet to be out of balance.
This happens because the credit is applied against payroll taxes included on the main form. Select your tax type below for instructions on resolving this issue.
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