Can anyone confirm all the fields that need adjusting for the Employee Retention Tax Credit on 1120s and other affected forms? This is what I'm understanding.
1120s:
Line 8 - Salaries and Wages
p3-5 -Schedule K line16c - Nondeductible expenses
M1 Line 3b - Employment credits wage reduction (from expenses on M1 items worksheet)
Schedule K-1:
Part III - Line 13 code P
Part III - Line 16 code C
Form 1040:
Transfer K-1 information
Form 7023 - Basis adjustment - Limitation smart Wks - B nondeductible expenses
Form 3800 Pt 3 - 1aa column c
Form 3800 references form 5884 but Turbo Tax did not generate that form for me. Should it?
Of course entering info in the above fields flows to other places but I didn't list those. I've got this fear I'm missing something or are entering the information twice.
