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Deductions & credits
Regarding the "remember to reduce your expenses on Form 1120 by the amount of credit you are receiving.".. If I'm a Sole Proprietor, do I do this on Schedule C?
Specifically do I simply reduce the Contract Labor amount (Schedule C Part II, line 11) by the Research Credit amount if I paid this contractor for the research? And attaching a statement stating as such?
Thank you
March 3, 2021
9:08 PM