Accrual Method LLC K-1 deducted 2020 ERTC on 2020 return as Non Deductible expense( Included in Cost of Goods).Now In 2021 when I receive the Payroll credit how is this to be entered? Will it effect Partners equity?
            
                
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ERTC nondeductible Expense?
And since you stated this is an Accrual Entity, you would have Accrued the credit:
That should help get you started.
K-1 Non taxable Income IMHO:)
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