PPP add back for CA for a S-Corp - Spidell

PPP add back for CA for a S-Corp

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Message Board PPP add back for CA for a S-Corp

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    • #305285
      Anonymous
      Participant

      I have called Lacerte twice.  How do I add PPP taxable income to Calif only in 2019 Lacerte for a S-Corp?  Software not updated.  The add back for CA in not flowing to the K-1.  Fiscal year end is Sept.  I am thinking that other people are having the same issue.  There must be a work around.

    • #305306
      Gerald Weiss
      Participant

      I have the same issue with SBA 1122 loan payments which are tax exempt income (basis additon) for Fed but taxable CA. S K-1 has  on line 10b  other income which flows nowhere. So Drake allows CA Schedule CA adjustment on line 8f which I made a CA addition of the SBA 1122 loan payments. Then gets addtion adjustment  to CA taxable income .

    • #305307
      Diane Kiefer
      Participant

      I believe it works if you go to Income (screen 13) and put the amount in “Expenses nondeductible to state related to a forgiven PPP loan {CA only}.”  It adds the amount to Form 100S, Line 7 as well as Sch K-1, Line 1 as a CA adjustment.

    • #305312
      Anonymous

      Lacerte does it correctly for 2020 tax year but not for 2019.  Trying to find a fix.

    • #305325
      Diane Kiefer
      Participant

      Sorry, I missed the part about it being for 2019.

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