ERC Credit Refund

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • rwm221
    Senior Member
    • Feb 2018
    • 134
    #1

    ERC Credit Refund

    I have a client with a partnership and has ERC Credit Refund. It says it goes on line 34 of the k-1, but I don't see a line 34. Where does it go?

    Thank You
    Tags: None
    • TaxGuyBill
      Senior Member
      • Oct 2013
      • 2363
      #2
      Can you clarify what EXACTLY you mean by "ERC Credit Refund"?

      Did the Partnership receive money, due to claiming the ERC?

        Comment

        • rwm221
          Senior Member
          • Feb 2018
          • 134
          #3
          It is a credit refund

            Comment

            • terryats
              Senior Member
              • Jan 2019
              • 282
              #4
              ERC is an employment tax credit, and should be reported on the 1065 K1 box 20 code AH. you should also attach a statement showing what year the adjustment was for, and the corrected profit/loss which may require partner to amend that year.

                Comment

                Previous template Next

                Disclaimer

                Collapse

                This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

                Working...