Solved: FICA Tip credit and Form 1040

Nicholas923 · ‎12-07-2019

I have a K-1 with a FICA TIP credit...I entered the TIP credit however the Pro Series Basic software does not have a Form 8846 which I understand is where this amount must flow to. Please help me enter this tip credit for a personal tax return. Thank you

itonewbie · ‎12-07-2019

Do you find the corresponding line item on the K-1 input screen for 1065 K-1 Line 15/1120S K-1 Line 13? If so, you should select "N" for the credit and it should flow directly to F.3800 and not F.8846.

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Still an AllStar

View solution in original post

itonewbie · ‎12-07-2019

Do you find the corresponding line item on the K-1 input screen for 1065 K-1 Line 15/1120S K-1 Line 13? If so, you should select "N" for the credit and it should flow directly to F.3800 and not F.8846.

---------------------------------------------------------------------------------
Still an AllStar

Nicholas923 · ‎12-07-2019

Thank you...it worked

itonewbie · ‎12-07-2019

NP, @Nicholas923!

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Still an AllStar

FICA Tip credit and Form 1040

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