Anyone fighting with the dang domestic production activities deduction for an s corp?

[sandysea]

Wonder how many of you are fighting with this....I have worked hours on this deduction and I am coming up with one dollar figure on the 1120S and one on the 1040...ProSeries software...

Anyone have any problems with this?

[BOB W]

Sandy..

... post the Sales > Total expenses > Net profit & Payroll.

[sandysea]

Hooray!!

Finally got this to work....understanding the deduction is 1/2 the battle and I just did not understand all the input fields....worked on it and now 1040 and 1120S 8903 match...thank you!!

My problem was the net income figure....book or tax? Differences for the Sec 179 and 1/2 M&E; threw my numbers off....got it figured out now

[BOB W]

Good....

.......... for you>>>>>> Yea, you have you watch that you are getting the correct net profit in order for it to work right.

[oceanlovin'ea]

sandysea

Where on the 1120S do you enter the information? The last line of the 8903 tells where to take the deduction on 1040, 1120, 1120-A but not 1120S. Do you just enter it on Schedule K?

Does your tax program actually have the 8903 in the 1120S program? Taxslayer Pro doesn't. There is a line for the deduction on the Schedule K. They told me to do the form and just enter the deduction on that line.

[BOB W]

Look ......

...... for a worksheet ........ best is to call your software company for the 1120s.

[JoshinNC]

Drake has an 8903 screen for the 1120S

Where on the 1120S do you enter the information? The last line of the 8903 tells where to take the deduction on 1040, 1120, 1120-A but not 1120S. Do you just enter it on Schedule K?

Does your tax program actually have the 8903 in the 1120S program? Taxslayer Pro doesn't. There is a line for the deduction on the Schedule K. They told me to do the form and just enter the deduction on that line.

Which then transfers the info to Sch. K and the respective K-1's