mike9
Level 4

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 

 

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