How do I enter a State Investment Credit from my employer into the Turbo tax? Its not letting my see a list, and its not in the guided view in teh app or online.

[ThomasM125]

Please clarify what state you are dealing with so we can help you.

[davidgoodall1]

Alabama. 

[DawnC]

At the end of the Alabama return, you will come to a screen titled Let's check for More Alabama Credits that lists many types of credits.   Let's us know more about your credit if it is not on the list below.   Prior approval through My Alabama Taxes (MAT) is required for these credits.   

• Provided basic skills education programs to employees
• Produced coal mined in Alabama
• Had railroad reconstruction or replacement expenditures
• Moved to or expanded in an economically depressed area of Alabama
• Made a corporate investment in an Alabama business (received Form K-RCC)
• Created new jobs paying more than $10 per hour
• Hire any recently deployed and now discharged veterans
• Are a recently deployed and now discharged veteran starting a business
• Purchased or installed an irrigation system or reservoir
• Paid taxes to a foreign country
• Port Credit amount from K-1 or certificate (Alabama Renewal Act)
• Received an Alabama Annual Investment Tax Credit Certificate for a qualified capital investment
• Innovate Alabama
• Alabama Workforce Housing
• Employer Tax Credit
• Childcare Facility Credit
• Employer Provider Credit  

 

[davidgoodall1]

Very helpful, but the question and answer format does not come to a screen that says lets check for other credits. It just goes to the next set of questions. Then I get back to this menu (image 1) and if I click on update to the taxes and credits, it just goes back to the same question and answer list (Image 2). 

[davidgoodall1]

Could it be that I need to upgrade to a higher tier turbo tax version? Also, I work for a 100% employee owned company. I have letters from teh Alabama Department of Revenue verifying the credit, and it is pre-certified in My Alabama Taxes. 

[RogerD1]

Do you happen to know the name of the credit you are getting?  If you click on Taxes and Credits in the first image in your posting, do you see that credit listed as your go through the screens on that topic?

You shouldn't have to upgrade your version of TurboTax to claim the state credit.

Since you work for an employee owned company, it's possible that it is an employer tax credit that will get reported on a business entity return (such as a partnership or corporation tax return) and the amount of the credit you are receiving may get reported to you on a K-1 form for a partnership or S-Corp.  You may want to talk your company's human resources rep or the person responsible for filing the company taxes to find out more information about the credit you are supposed to receive and also how you are going to receive it and report it on your tax return.