mike9
Level 4
07-10-2022
01:42 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Hi
I have a client with 9 K-1's. Each of those entities have current and carryover of Work Opportunity Tax Credit and Tip Credit. He owes a lot of taxes this year ($145K) but the 1040 credit opnly shows the current year credits of $43K . He has carryovers from 2020 of $14K in Tip credits and $62K in WOTC for a total of $76K and he should be allowed to apply all the credits for a total of $119 ($43+$76) right?
How do I get the carryover credits to be allowed?
Anyhelp will be immensely appreciated
Mike
Labels