In the IN return, as you go through the program, in the income and deductions section, is the tax addback. The addback encompasses information on schedules C, E, and F which include:
- federal net operating loss carryforward
- bonus depreciation
- section 179 deduction of more than $25,000 taken on your federal return
- interest on out of state obligations acquired after 12/31/2011
Since you have been through the state program, please follow these steps:
- Open your return
- Edit your IN state return
- Continue through until you reach Your 2021 IN taxes are ready for us to check
- Select Income and Deductions, Edit
- Select Tax Add-Back, revisit/ start
- State Franchise or Business tax paid, select Yes
- Enter your tax addback in the state business tax box.
The tax addback goes to line 1 of sch 1. For more about the tax addback, see IT-40 Booklet page 12.
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