1) "C" corp client paid 2007 federal tax of $26000 in 2008. Do I deduct anywhere?
This is recorded in QB of 2008. Is this a item that is in Quick Books but not deducted on Tax Return?
(2) This client, C corp, has a Loss of $58000 in 2008. He had income of $177,000 in 2007. He did pay tax of $26000 on this 2007 income. Can I take loss of 2008 (58000) and apply to 2007? (Carryback)
This is recorded in QB of 2008. Is this a item that is in Quick Books but not deducted on Tax Return?
(2) This client, C corp, has a Loss of $58000 in 2008. He had income of $177,000 in 2007. He did pay tax of $26000 on this 2007 income. Can I take loss of 2008 (58000) and apply to 2007? (Carryback)
Comment