Not a preparer, this is a question about our own taxes. If this overpayment hadn't occurred, we would have paid less federal tax, but there doesn't seem to be a way to fix this without increasing our AGI and then the state tax owed would be more than the federal credit. I have been reading through all the intuit posts on claim of right and in a couple of posts it seems to say that there is no PA state equivalent for IRC 1341. I contacted the PA Dept of Rev to ask if there was any equivalent, or a memo relating to this topic, as there is in many other states I researched, but didn't get a direct answer, just that if our business income changes then we should file an amendment. What I think is that PA must be like NJ and there isn't any recourse, you just treat it as income in one year and a deduction in the next but if that ends up with you paying more taxes, then that's what it is. If PA doesn't have an equivalent claim of right, is there any other way to deal with this, or somewhere I could get help to figure it out.
