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Get your taxes done using TurboTax
Yes. It is for CA, Business version, desk top version. I have a S Corp. I don't know if it is me or Turbo tax does not include this on the desk top version for Business version, I can not find this step to enter. I think this is a major fault of Turbo Tax. I hope someone from Turbo tax is monitoring this and get it fixed.
I ended up open Form, find 100S on the drop down box, enter the amount 100S Line 12 “Other deductions” line.
Someone also wrote "
I have a 2021 S Corp. I input the grant as Other Income on the Federal 1120S. To get the results Safwan lists above at February 7, 2022 at 9:33 am, I input the grant on Lacerte screen 44.011, California Conformity Adjustments to Sch K. I also input in the Tax Exempt Section for Income Recorded on Books Not Included on Sch K. Screen 31.1 but just in State if Different Column.
On CA form 100S, the grant is included in Other Deductions line 20, schedule F and it shows up on CA Sch. M-1, line 5b. It correctly reduces K-1 Ordinary Income."