Hello!
Clarification - on the 1120 S return Business Software - on form 8881 it is picking up the Part 1 Credit from line 5 (the start up costs) and reporting as a nondeductible expense (therefore reducing the actual expense - as it should) - however it is not picking up the credit for the employer contributions made and offsetting the expense
On line 5 I have $950 for start up expense credit and it appears to be correctly reporting, but another $2258 in employer contributions that is giving me the credit on the K1 of $3208 but there isn't an book/tax offset for the $2258 in employer contribution credits.
Is this a turbo tax error in the software or is this correct?
