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M
money4three
September 13, 2023
Question

My Federal and State (MA) K1s are different, and the MA SK1 includes a large credit that I need to be able to enter. But, I can't find the entries anywhere in TT. Ideas?

  • September 13, 2023
  • 1 reply
  • 0 views
The taxable income amounts are different, and the credit is a Chapter 63D credit.

1 reply

T
TomD8
Employee
September 13, 2023

According to the instructions in this reference, a 63D credit is taken on Massachusetts Schedule CMS.   Section 4 of Schedule CMS is titled Refundable Credits Received from Massachusetts K-1 Schedules.

https://www.mass.gov/doc/2022-schedule-cms-instructions/download

 

Schedule CMS:

https://www.mass.gov/doc/2022-schedule-cms-credit-manager-schedule/download

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
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