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Business & farm
If the credit is recorded on Schedule K1, Line 13g (Code P Other Credits), when input on Form 1040 of the taxpayer return this line item gives a tax credit to the taxpayer on Form 3800, decreasing the tax due which is not correct. The credit was taken at the business level, and it should not give any additional credit at the personal level. Please advise.
‎December 20, 2022
9:53 AM