Drake Tax - AZ - EF Message 0016

EF Message 0016 is related to the AZ 348 Credit for Contributions to Private School Tuition Organizations Overflow. To be eligible to claim this credit, you must first claim the maximum current year’s credit allowed on Arizona Form 323, Credit for Contributions to Private School Tuition Organizations. The amount of credit you must claim on Form 323 depends on your filing status. See Form 323 for these amounts. If you have a carryover amount(s) from a credit claimed on Form 348 from prior tax year(s), you do not have to claim the maximum allowable credit on Form 323 to only use a carryover amount on Form 348. If you are claiming only a carryover amount on Form 348, and are not claiming any current year’s credit on Form 323, submit only Forms 301 and 348. For further instruction, review the AZ 348 Instructions.

To resolve this EF Message, go to data entry > States tab > Arizona > Credits tab > screen 348 School Tuition Organizations Overflow.

Review the numbers on this screen to ensure that the carryover amounts are correct. If they are correct, select I have verified the carryover amounts are correct.

If this is the first year that the taxpayer is claiming the credit, the box that states I have verified the carryover amounts are correct must also be marked to allow a current year credit to flow to the 348 screen and be updated to next year.