’06 S-corp estimates were overpaid on the CA corp return, which generated a State tax refund. This refund was applied to the first CA ’07 estimate for the corp.
Question: does it follow that the S-corp would have to claim this back as income on the ’07 1120S and then take the deduction as estimate expense? If so, where would the input for the income go, other income?
Thank you.
Question: does it follow that the S-corp would have to claim this back as income on the ’07 1120S and then take the deduction as estimate expense? If so, where would the input for the income go, other income?
Thank you.
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