Drake Tax - 1120-S: Basis for General Business Credit

Article #: 10359

Last Updated: January 07, 2025

 

Tags: Drake Tax1120S

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Return Note 353 appears in a 1065 or 1120-S return alerting you that an adjustment may be needed due to business credits taken on the return.

On an 1120-S return, on each K1E screen > Basis Wks tab on line 7a Nondeductible expenses and credit adjustments.