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MJC6
Level 1

Multiple General Business Credit Carryforwards

I have low income housing carryforward general business credits from 3 investments.  I have run into 2 issues with Turbotax.

 

1.  On Form 3800 the IRS requires a detailed breakdown of the credits on an attached statement; however, Turbotax does not allow supporting statements on this line.  I could type the information on a Word document, but then I couldn't e-file.

 

2.  On Pg 4 of the Form 3800 Worksheet where the information is entered, Turbotax will only allow a single entry for the same type of credit.  So I'm forced to roll all the credits into a single entry with a single Employer Identification Number, which is not correct.

 

Any thoughts on how to get around these issues?

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2 Replies
MarilynG
Expert Alumni

Multiple General Business Credit Carryforwards

You can enter a Carryover amount for each of your three separate entities.  

 

 

 

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MJC6
Level 1

Multiple General Business Credit Carryforwards

You can't add another general business credit if it's of the same type.  Turbotax will generate an error and request you combine them into one entry.

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